Posted by HrdwrkrVA on 7/15/11 5:55pm
Msg #389814

Anybody ever heard of of a purchase/reverse mtg? It's new

in CA. Pls adv - I have one tomorrow & need to know asap - thanks!

Reply by jba/fl on 7/15/11 6:03pm
Msg #389816

Not new, just new to you. Several years now. n/m

Reply by Grammyzoom on 7/16/11 8:52am
Msg #389838

Re: Not new, just new to you. Several years now.

I have done several of these. They are no different that any other purchase escrow with the exception of the loan to the borrower. Treat it just like you would any other purchase and any other reverse mortgage.

Reply by HrdwrkrVA on 7/16/11 9:34pm
Msg #389888

I did it today & I saw it's the same - thanks! n/m