How can I pay off a reverse mortgage?

Asked on Jul 26th, 2011 on Landlord and Tenant Law - New York
More details to this question:
Good Morning, I recently took out a home equity loan on my home ,so that I could keep my mother's home as a family home, I was advised that I need to speak to a Real Estate Lawyer, what advice can you give me. Thank You in advance for your time.
  • 5.0/5.0
  • 0
  • 1
1peer review
no client reviews
Answered on Jul 27th, 2011 at 9:00 AM
You pay off a reverse mortgage the same way as any mortgage. Have the lender give you a payoff figure as of a given future date and pay them that amount on or before then. You may also have to notify them that you are closing the account so they don't keep a line of credit open and bill you service and other charges.

Report Abuse

Ask a Lawyer

Lawyers from our extensive network are ready to answer your question.

0 out of 150 characters