Our loans can be provided to an irrevocable trust, an estate going through the probate process, heirs that have already inherited a property or a spouse that was left the property with a mortgage that is being called due.
The reverse mortgage servicing firm should send a letter to the property address, or mailing address on file indicating the amount due. In addition, escrow will order an official payoff demand right away with the proper authority provided.
The process can take anywhere from a few days to a few weeks depending on the reverse mortgage servicing company, and responsible parties of the property/estate. HCS Equity will work closely with all parties to determine the best plan of action to payoff the outstanding reverse mortgage.