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Updated over 11 years ago on . Most recent reply

User Stats

14
Posts
8
Votes
Gladstone Rennie
  • Specialist
  • Los Angeles, CA
8
Votes |
14
Posts

Is it Possible to wholesale a property with a Reverse Mortgage?

Gladstone Rennie
  • Specialist
  • Los Angeles, CA
Posted

Hey BP,

Hope I can get some assistance on this one. I'm still new so please bare with me. I recently had a call come in from an owner that wants to sell his fathers property fast which is great but he has a reverse mortgage on the property.

I'm not familiar this type of situation and want to know if wholesaling the property is an option? And if so, What information do I need to know from the owner to make this work out? So for I've just ran numbers as if it were a traditional wholesale deal.

Thanks and hope to hear some helpful tips soon!

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