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Updated over 1 year ago on . Most recent reply

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572
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Kevin Polite
  • Investor
  • Decatur Atlanta, GA
184
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572
Posts

Reverse Mortgage Foreclosure

Kevin Polite
  • Investor
  • Decatur Atlanta, GA
Posted

We found a couple of properties that have reverse mortgages but are abandoned homes. Working on finding the owners. Saw that the the mortgages are more than the homes are worth even on a retail level. However, the taxes are still being paid and one is burned down and has been for over two years so it must not have had insurance. I'm not that a familiar with reverse mortgages and I know they come in all different sizes, but it seems strange that the taxes are being paid, but on that no one has claimed insurance to have it rebuilt. 

  • Kevin Polite
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