I have a reverse mortgage with $2500. left to draw down. Now what do I do? Draw down or leave it there? I need legal help.

Bankruptcy and Debt 2 views 2 answers
Where can I go for free assistance? My monthly income is about $1600 per month.

Attorney Answers

2
Jonathan Klurfeld ·
You can call your local legal aid office for free assistance. I am unsure of the question. You have $2,500 more left and then the money is gone on the reverse mortgage; there is really no legal question to answer.
0 upvotes
Barbara Billiot StageForeclosure AttorneyOrlando, FLFL licensed ·
I'm not sure of what your question is, but a reverse mortgage is generally not repaid by the homeowner. The homeowner has use of the home until he dies, sells the property or moves out for some other reason. Then the mortgage company is repaid from the proceeds of the sale. If you cannot afford a lawyer, check with any law schools in your area to see if the legal clinic can assist you or check with the Lee County Bar Association for legal aid.
0 upvotes

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