If, I have a revirse mortage, can I sell my house?
Answer:
yes - but be sure to check your contract.
You already did
yes, you just have to pay back what you've gotten out of the mortgage at closing.
Check your loan docs. Probably, because a Reverse Mortgage is drawing off the equity you have in your home. You will of course have to pay the money that you've received from the bank back upon sale.
No, it belongs to the bank/government but you can live in it till you die. But if you decide to move, they will take it too. A reverse mortage is basically selling it back to the bank but they pay you in monthly payments. I would only recommend this if your are retired and is not planning to move ever again.
yes, but then you have to pay back the company who gave you the mortgage out of the proceeds from the sale.
Probably, it depends on the agreement you signed. You have already sold it. A few lenders will allow you to pay them off plus interest so that you can sell it to somebody else.
Yes you may.
This site has many free reports that will most likely answer most of your questions
http://www.paynotaxesforlife.com.
most questions about reverse mortgages are answered here:
http://www.choicefinance.net/reverse-mor.
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