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Colorado Reverse Mortgage explains an heir’s responsibilities when she inherits a home

The best Colorado Reverse Mortgage advisor explains an heir’s responsibilities when she inherits a home.

A daughter writes…

Mom and Dad got a RM 16 years ago. Mom passed away last year, but Dad is only 78 and going strong. I don’t mean to sound like I’m giving my father a death sentence (we’re together now as I type this), but my question really isn’t for today but let’s say for 10 years from today. In my example, I’ll assume Dad’s home will be worth $600,000. His current balance is currently under $400,000 but since he’s on a fixed rate, I can project that his loan balance will grow to more than $725,000 in the next ten years. As sole heir and executor of his estate, what are my obligations at the time of his death? Will I be required to pay off the loan balance? How long am I given to deal with all this? Thanks, Kimberly M

Colorado Reverse Mortgage explains an heir’s responsibilities when she inherits a home. Mace Kochenderfer, CRMP feels…

Colorado Reverse Mortgage explains an heir’s responsibilities when she inherits a home. This is an important topic and being thorough is crucial. Mace discusses several options for Kimberly and also addresses a few topics that she hadn’t even asked about. Mace publishes many videos that discuss a variety of situations. Discussing an heir’s responsibilities when she inherits a home is an insightful discussion about the process. You don’t need to watch all his videos, but this is one he feels everyone should watch. More interesting facts can be found here!

Colorado Reverse Mortgage

We are more than just a Reverse Mortgage company. We feel it is important to look at and address a bigger picture. We discuss Reverse Mortgages (of course) but will be happy to share our knowledge and input on a variety of “senior-centric” topics. Mace visits about the importance of Trusts, Social Security, Home Safety, Power of Attorney documents, Senior Abuse (financial, physical and mental), and many other areas. Remember we’re not just a reverse mortgage company, we’re your neighbors.

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Use this Reverse Mortgage calculator. This is a safe site and the calculator will give you a rough estimate. However, an experienced Certified Reverse Mortgage Professional will not only be more accurate but will also know ways to maximize the benefit to a consumer and will do a better job than a generic calculator.