Quote:
Originally Posted by Warren Kiefer
i don't understand the relationship of the neglect and a reverse mortage. They can only get the reverse loan amount of 50% of the property value. It seems they would have sold the home.
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It is very possible that the owners took out a reverse mortgage and then suffered medical issues which put then into assisted living or nursing home. Depending upon how their financial powers of attorney were written, their family may not be able to act on their behalf. Or they may no one who can act for them. Or they may think that they are going to recover and move back.