Reverse Mortgage

[Nancy C.]

Hello everyone, I am new to the forum and new to REI. There is an abandoned property that I am considering wholesaling, I was able to locate the owners out of state and long story short they have a reverse mortgage on the property. Now I am not familiar with reverse mortgages but does this exclude the property's potential. Thank you

[Don Konipol]

Few people fully understand reverse mortgages (myself included). A reverse mortgage is actually a loan coupled with an annuity. It definetly has a payoff and so the property can be handled like any other with an outstanding lien.