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can i just walk away from my reverse mortgage? i can no longer pay the property taxes.

by jennycup60425 from Iron River, Wisconsin. Aug 22nd 2018 Reply


Brian Hofmann (MortgageNerds)
#45 ranked lender in Wisconsin - 7 contributions

Did you look into selling the property to avoid the foreclosure?

Aug 22nd 2018
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Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions

Short answer you can do what you want...though there would be credit and other property issues that would present itself. So if you are willing to accept those issues...You can look to sell the property to avoid any of those issues and if there is any equity walk away with some $$ in your pocket....

Aug 23rd 2018
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SEAN WRIGHT (LANDMARKMORT)
#6 ranked lender in Wisconsin - 50 contributions

That would be an OPTION, probably not the best one.You can stay in your house without paying taxes for like 3 years.You must have some other issues. Call me to discus what those are, or if you are in Green Bay - stop by my office.

Aug 24th 2018
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Why not simply sell it.

Aug 27th 2018
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