Selling a Reverse-Mortgage Home -- What You Need to Know

This is where timing gets real. You generally have six months to sell the home before the lender begins foreclosure.

How the Sale Works

• You list the property and sell it like a standard home.

• At closing, the reverse-mortgage balance is paid from sale proceeds.

• If any remaining equity goes to the heirs.

What If the Balance Is Higher Than the Value?

HUD allows heirs to sell for 95% of the home’s current appraised value — even if the loan balance is higher. This is sometimes called a short sale.

If the lender agrees, you won’t owe the difference.

Keys to Success

• Hire me (Sharon Powell) as your Realtor who understands reverse-mortgage timeframes and lender negotiations.

• Communicate frequently with the servicer.

• Don’t wait until the fifth month to list.

I’ve successfully helped heirs sell reverse-mortgage homes — even when timelines were tight. Let’s discuss your best sales strategy: 832-978-2372.