What’s the solution to this problem?

[Frank Cardenas Jr]

Recently my brother and his wife were given the option to take over their grandmothers home. The home had a reverse mortgage owing about $175,000 still on it. The value of the house in that neighborhood is at about $500,000 in a up and coming suburb in Houston, TX near a hospital. My question is my brother wants to take on the loan and how can he refinance it to get the ARV? Is there any kind of time restraints to holding the property once he gets the loan, before he can refinance? Any help would be great.

Thank you,