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Updated over 6 years ago,

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Bob Malecki#5 Tax Liens & Mortgage Notes Contributor
  • Investor
  • Kingston, WA
1,451
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Tax Liens & Mortgage Notes

Foreclosing on reverse mortgage?

Bob Malecki#5 Tax Liens & Mortgage Notes Contributor
  • Investor
  • Kingston, WA
Posted

We generally buy borrower occupied NPLs and attempt a workout with the borrower. I have an opportunity to buy some HECM loans on vacant properties. These are reverse mortgages where the borrower has passed away. 

Does anyone have any thoughts on the viability for foreclosing on this type of loan and what the liabilities/pitfalls are? 

Thanks

Bob

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