Murrmurr
SF VIP
- Location
- Sacramento, California
I need information and I hope someone here can help.
I know this lady named Jackie; known her for years; her mom and my mom were next-door neighbors. Jackie is my former foster son’s grandmother and she’s going to try to get custody of him and his younger siblings, but I doubt she’ll succeed. I think she's just going to mess that relationship up, and here's why...
Jackie lives in her parents’ house. They got a reverse mortgage about 12 years ago. The Mr died a decade ago and the Mrs died last March. Jackie hasn’t told the bank that her mother died. So question #1; Isn’t the bank gonna find out the Mrs is dead and evict Jackie?
Jackie thinks her brother somehow took out a $400K loan on the house about 5 years ago. Question #2; Is that even possible?....can someone borrow against a house that’s in a reverse mortgage?
Jacki pays $450/mo to the bank. She says it’s because of that loan, which makes no sense. I think she’s paying homeowner’s insurance and property taxes through the bank, like her parents did. She has no paperwork about a loan.
If Jackie takes her daughter to court for custody of the grandkids, her daughter might bring up the crap about the house in court, and Jackie would lose her case based on an unstable living situation. Then the whole thing would just further alienate Jackie and her daughter, and her daughter wouldn’t let her ever see the kids again, I’m sure of that.
Anyway, if anyone has any idea about what the bank will probably do, please comment. Thanks!
(Jacki doesn’t make much money so there’s no way she could ever buy the house.)
I know this lady named Jackie; known her for years; her mom and my mom were next-door neighbors. Jackie is my former foster son’s grandmother and she’s going to try to get custody of him and his younger siblings, but I doubt she’ll succeed. I think she's just going to mess that relationship up, and here's why...
Jackie lives in her parents’ house. They got a reverse mortgage about 12 years ago. The Mr died a decade ago and the Mrs died last March. Jackie hasn’t told the bank that her mother died. So question #1; Isn’t the bank gonna find out the Mrs is dead and evict Jackie?
Jackie thinks her brother somehow took out a $400K loan on the house about 5 years ago. Question #2; Is that even possible?....can someone borrow against a house that’s in a reverse mortgage?
Jacki pays $450/mo to the bank. She says it’s because of that loan, which makes no sense. I think she’s paying homeowner’s insurance and property taxes through the bank, like her parents did. She has no paperwork about a loan.
If Jackie takes her daughter to court for custody of the grandkids, her daughter might bring up the crap about the house in court, and Jackie would lose her case based on an unstable living situation. Then the whole thing would just further alienate Jackie and her daughter, and her daughter wouldn’t let her ever see the kids again, I’m sure of that.
Anyway, if anyone has any idea about what the bank will probably do, please comment. Thanks!
(Jacki doesn’t make much money so there’s no way she could ever buy the house.)