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Reverse Mortgage Short Sale
 
 
Reverse Mortgage Short Sale
 
What will happen, when a home owner has a Home Equity Conversion Mortgage (HECM) (aka Reverse Mortgage) and their home is no longer worth what they borrowed?   
 
This client needs to sell their home and they will owe around $200,000.00. 
The home will probably sell for about $70,000. 
 
Has anyone had experience with this? 
 
What do our mortgage folks know about this? 
 
Thanks for your input. 
 
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