Is a Subject To possible on a Reverse Mortgage

[Warren Williams]

I found a house that is in preforeclosure that I am interesting in obtaining.  I would like to do a sub2 on the property that is now vacant.  In talking with the owners daughter, she said that her mother had taken out a reverse mortgage on the property.

According to the daughter the Payoff is $82,000.   Other comp properties (sq. ft. and condition) are in the $150,000 range.  This house probably has $30,000 in rehab work.  Rehab $ will need further investigation once I can access the house.

I would like to do a Subject To on the property, but am confused by the reverse mortgage aspect of this deal.   I know that on a reverse mortgage the owner is suppose to remain in the house (primary residence), but regular mortgages have a the Due On Sale clause.

Is there a way to do this deal?