Legal Question in Real Estate Law in California

My father is in the process of obtaining a reverse mortgage. I am inquiring as to any known horror stories about this process


Asked on 2/16/12, 12:13 pm

1 Answer from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Back in 2005, "Reverse Mortgages for Dummies" (Wiley) appeared. The laws regarding reverse mortgages have been modified significantly since, so I suppose the book has appeared in revised (updated) format. I recommend it as worthwhile reading for both of you. On the whole, I think a reverse mortgage is at least one of the tools and options available for an older citizen who would prefer to stay in his/her/their home. Sure, there are horror stories, but a lot of people have remained comforable and happy in their own homes with the help of reverse mortgages. Those best able to benefit from a reverse mortgage are (a) older; (b) less likely to want to move; and (c) have a higher percentage of equity (to debt) in their homes.

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Answered on 2/16/12, 1:51 pm


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