Скачать или смотреть Death of a Parent with a Reverse Mortgage | Buying My Parents Home That Has a Reverse Mortgage 2025

2025 version. What happens with the death of a parent with a reverse mortgage? What does an heir do? How do I talk to the reverse mortgage lender? Will the reverse mortgage lender foreclose and why are they behaving in a certain manner?
I answer those questions in this video.
I will also show you how on a HECM reverse mortgage, to retain the property if it's upside down in value, meaning the reverse mortgage loan balance is higher than the home value. There is a specific process that has to be followed in a certain order for this option to be available.
Reverse mortgage education is vital when it comes to working with a HECM reverse mortgage lender. Saying the wrong thing can be costly.
I reside in California and only do California reverse mortgages.
Head on over to my other videos on YouTube for more reverse mortgage education.
Feel free to click the "contact me" link below to ask a question on how this process works.
https://californiareversemortgage.biz...
Thanks for watching!
Kevin Walton
C2 Reverse, a subsidiary of C2 Financial Corporation
www.californiareversemortgage.biz
805-276-1942

This information is not intended to be a substitute for legal, tax or financial advice. Consult with a qualified attorney, accountant or financial advisor for additional legal or tax advice. These materials are not from HUD or FHA and were not approved by HUD or a government agency.
There are some circumstances that will cause the loan to mature and the balance to become due and payable. The borrower(s) must continue to pay for property taxes and insurance and maintain the property to meet HUD standards or risk default. Credit is subject to age, minimum income guidelines, credit history, and property qualifications. Program rates, fees, terms and conditions are not available in all states and subject to change.
Kevin Walton
NMLS #245923
Phone: (805) 276-1942
C2 Reverse Mortgage Corporation
12230 El Camino, Suite 100, San Diego, CA 92130

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Kevin Walton, Residential Mortgage Loan Originator, NMLS #245923 // C2 Financial Corporation NMLS #135622
Kevin Walton, Residential Mortgage Loan Originator, DRE #, 01453270//C2 Financial Corporation DRE#, 01821025
Corporate: 858-312-4900 // www.c2financialcorp.com/
[email protected]
Kevin’s cell: 805-276-1942
This licensee is performing acts for which a real estate license is required. C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025: NMLS # 135622. Loan approval is not guaranteed and is subject to lender review of information. Loan is only approved when lender has issued approval in writing. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. The services referred to herein are not available to persons located outside the state of California.

As a broker, C2 Financial Corporation is NOT approved by the FHA or HUD, but C2 Financial Corporation is allowed to originate FHA loans based on their relationships with FHA approved lenders.
00:00 Introduction
01:47 One dies, non-borrowing spouse
02:56 All other occupants must move, property can't be rented out
04:51 1st step after death, lender $15k fine for not following timeline
05:54 Heirs have 45 days to respond to demand
06:55 Absolute latest lender will start forecloure
08:08 Lender legal fees
09:06 Foreclosure time extensions, your intent
10:33 Living trust, probate and wills
11:57 CA probate costs vs having a living trust
14:34 Probate vs. living trust timeline
15:56 Not automatically 12 mos to sell property
16:35 Non-HECM may not give extensions
17:36 Retaining the property when no equity
20:13 After death purchase rules
22:33 Deed in lieu of foreclosure and rules
24:23 Prop tax must be paid, interest keeps accumulating on loan