Aramac Financial: REVERSE MORTGAGE VIDEO
Shelli Frances hosts this short informational video on Reverse Mortgages. Contact Aramac Financial for more information 1.800.217.7781 and visit www.AramacFinancial.com
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I agree FHA does not require it, however, the terms outlined in my contract with the reverse mortgage bank stipulates it, and I didn’t notice that at the time I signed the contract. I wonder if FHA would allow that, and I called FHA and they admitted they did not require it, but could not answer my question about it being in my contract with Bank of American. Can Bank of America enforce that? How do I find out? Thanks.
mprinter writes that reverse mortgages cannot be called due to bankruptcy. That is probably true or could be trule, but suppose the mortgage agreement stipulates that it would be recalled if the borrower goes into bankruptcy? I don’t think FHA requires it, but the lender put it in the contract, and that contract could be held to be binding, couldn’t it?
@palsimon614
Reverse Mortgages cannot be called due to bankruptcy.
lol this is my Girlfriends Mom!!
Doomstay Scenario none of the lenders or HUD tell you about: If you go into bankruptcy because you cannot pay your credit card debts, FHA terms require the lender to call your loan. I don’t know what happens then? Terrible possibilities here.
hola soy de venezuela y perteneco a el grupo de camara aramac. soy percusionista , quiero saber si ustedes nos hanmandado algun mensaje?. A que se dedica su institucion?