My dad passed away last month. He did reverse mortgage his house.we want to keep the house.looking for loan to repay the $300 thousand he got.looking for loan.need advice.

I am not an attorney and this should not be construed as legal advice. You may want to consult an attorney about this.That loan will need to beed paid off. otherwise, the bank holding that loan may be able to take the property after a certain period of time. If he left a will, the person he left the house to will ultimately become the owner of that property. That person will need to be the one to apply for the new loan that will be used to payoff the old one. Call me with any further questions. Joe Shamie 877-662-3321 x-102

I can help you in your quest for a new mortgage to pay off the old one. Give me a call for a rate quote and a workout onj how to get that reverse mortgage to be paid off. I lend in all of CaliforniaThanksGordon DempseySet2GoLoans2082 Bristol StNewport Beach,CA 92660540 293 9296

The reverse mortgage that is currently on the home has certain time restraints regarding how soon it must be paid off after the passing of the owner. 3 months is automatic, with extensions permitted by the discretion of the lender to a maximum of 12 months. The home must be paid off without exception in 12 months. You should contact a mortgage company in your area for refinancing advice. WilliamAcres.com

I am assuming all heirs are listed on a will and/or that there are no probate issues that would stand in the way of the refinance. Other than that, it is just a matter of applying for a mortgage and working with the existing loan servicer to get the transaction completed. As already mentioned, there are time constraints so be proactive with your research. I strongly advise you avoid the "big banks" for refinance options as they take forever to close a loan. You could lose the house while they are processing your loan. For the record, we consistently close loans in 20 to 30 days. Call me if you would like more info. 619.787.8212