07-21-2019, 03:10 PM
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Sage
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Join Date: Apr 2016
Location: Between 466 & 466A
Posts: 10,509
Thanks: 82
Thanked 1,507 Times in 677 Posts
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Quote:
Originally Posted by Buck Maverick
Yes. The Reverse Mortgage Company served me with a mortgage complaint for my recently deceased Mother's house in the Alhambra area. The home is worth approximately $210,000- $249,000 and according to the Complaint, the undaid principal balance is ~$87,500. I can come up with some of the unpaid balance, but probably not all of it. And even though there is a good amount of equity and a decent downpayment, I do not believe my credit score is high enough to qualify for a bank loan for the remainder. I thought a private investor may see the investment potential, and may loan me the capital I will need to buy out the reverse mortgage company with the deed to the house as collateral. Thank you for responding. Buck
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Just out of curiosity, why haven't you even applied for a loan yet...before publicly asking for someone to invest?
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