UPKEEP AND REPAIRS

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UPKEEP AND REPAIRS

Post  Lizzy B on Fri Feb 08, 2008 12:40 pm

Just wanted you all to know that when you take out a reverse mortgage loan that you will be responsible for all repairs on your home.

Lizzy B

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Re: UPKEEP AND REPAIRS

Post  Cherry Pearl on Fri Feb 08, 2008 1:17 pm

You are required to keep the home in good repair while you are living in the house. This is required because the lender wants to be certain that the property holds it market value.

Cherry Pearl

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Re: UPKEEP AND REPAIRS

Post  Sun Shine on Fri Feb 08, 2008 1:53 pm

I'm sure if the house is not in good shape you will not be able to get the loan in the first place.

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