October 5th, 2009

With a reverse mortgage how do they know if your still living in the home?

Sandy K asked:


this person has a reverse mortgage if her family puts her in a home how do the reverse mortgage company know that she is not living there because the people living in her home now will not tell them they will just stay that’s why I’m wondering how the company knows because it states they can’t be away from the home for more then twelve monthes

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This entry was posted on Monday, October 5th, 2009 at 12:04 pm and is filed under Reverse Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “With a reverse mortgage how do they know if your still living in the home?”

  1. Skinny Says:
    October 6th, 2009 at 3:46 am

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    So what you are saying is you want to cheat the system, and your parents out of their home, by putting them in a nursing home while you stay in their home rent free…if and when they find out there can be some serious legal issues. As long as they are in the home there isn’t a problem so why don’t you show them the respect and love they deserve for allowing you to stay in their home, and just keep them there and take care of them.

  2. taximomuv3 Says:
    October 6th, 2009 at 10:56 am

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    Usually if it’s a long-term care facility (I would say more than 12 months qualifies as such) they have access to the person’s income and assets and the mortgage company will be notified. Tell the scum that are considering trading in their mother for her home they should be ashamed of themselves - that’s a pretty disgusting way to treat someone who can’t defend themself. They’re no better than the pathetic thugs that mug little old ladies and steal their purses.