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Franklin Said:

reverse mortgage...again?

We Answered:

I definitely agree with Garden by M. All debts will be assumed by the reverse mortgage company FIRST. Also, I strongly doubt a case can be made that your grandmother didn't know "what was going on," plus--your grandfather signed it! as well as your mother who had Power of Attorney. There's no legal case here at all. I would assume $30,000. in credit card debt has already been placed as a lien against the property. There is really no way out of this.

Edit: Ooops. Just read your question again, & it's POSSIBLE there's a loophole here, since your mother did NOT have anything to do with it. This is more glitchy than I thought, as to the legal responsibility of your grandfather. SEE AN ATTORNEY.

Heidi Said:

Reverse mortgage exceeding house value?

We Answered:

Reverse mortgages can be confusing. You can learn more about reverse mortgage problems here: http://life123.com/career-money/real-estate/mortgages/reverse-mortgage-pitfalls.shtml. Good luck!