Upside Down Mortgage

Government Mortgage Help Website

Question: Government or a company pays all or part of seniors mortgage and then own the house when you die?

ive heard of such a program that pays your monthly mortage but then owns your house when you die, not your heirs. is there such thing? and if so can i have some more info like a phone number or website? thanks

Answer: It's called a reverse mortgage. A loan company or bank will pay money that is the value of the house. When the owner dies, the company sells the house to recover the money plus profit.

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