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Hangingon61 Asked February 2019

Foreclosure of reverse mortgage home. What are the next steps?

There was a sign posted on my mom’s house yesterday saying “this property is being managed by so & so field company”.


I'm assuming this is a company contracted by the reverse mortgage company’s bank to perform an (exterior) inspection so I’m wondering what the next steps are regarding when & how the bank takes physical possession of mom’s house.  Since they haven’t contacted me (I’m her POA for everything) how will they get inside the house?

Countrymouse Feb 2019
I should ring the mortgage provider and ask for an explanation. Do you have all the paperwork related to the RM? The POA does make you responsible for co-operating with the next steps, whatever they might be; so I should get a bit proactive about it if I were you.

Has the house been cleared or are your mother's possessions still all there?

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