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Reverse Mortgage and Bankruptcy

Can I File for Bankruptcy If I Have a Reverse Mortgage?

On Behalf of Levitt & Slafkes, P.C. | Dec 18, 2023 | Reverse Mortgage and Bankruptcy

How Does A Reverse Mortgage Work? Many older adults use reverse mortgages to manage house payments or to tap into their home equity without having to sell their home. The loan is called a "reverse mortgage" because over time the mortgage balance increases, rather than...

How Does Bankruptcy Affect a Reverse Mortgage?

On Behalf of Levitt & Slafkes, P.C. | Aug 17, 2017 | Reverse Mortgage and Bankruptcy, Seniors and Bankruptcy

Despite the controversy surrounding reverse mortgages, many thousands of homeowners in the US have used them to receive their choice of the following: A sizeable lump sum payment representing their accrued home equity Monthly payments from the bank (in lieu of the...