What are you Wholesalers doing with Reverse Mortgages?

[Michael G.]

I have 3 deals in my pipeline that have reverse mortgages.

2 are probate deals where the owner is deceased. 1 is an owner whose house was trashed by Hurricane Sandy, has medical issues and has moved out of the home leaving it vacant.

My understanding about reverse mortgages is that FHA covers the default amount?

I want to know if there is a way to short sale these reverse mortgages or what the process is make these deals profitable.

I cannot be the only wholesaler that is running into these reverse mortgage situations.