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Updated about 4 years ago on . Most recent reply

User Stats

12
Posts
2
Votes
Robert Jon Vermeer
  • Investor
  • San Antonio Area
2
Votes |
12
Posts

Reverse Mortgage and how to make an offer???

Robert Jon Vermeer
  • Investor
  • San Antonio Area
Posted

Ok, I have a possible flip but do not know how to evaluate what to offer to pay for the house? What is the payoff on the reverse mortgage taken in 2014 in the amount of $112,500.00. The present ARV of the house is 140k and the tax value is 130k. How does this work?

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