A reverse mortgage is that loan guaranteed by way of a lien from the home this is certainly in first lien place. Which means some other liens filed by other creditors from the home following the reverse mortgage could be subordinate to your previous lien.
I would personally need to suggest which you contact legal counsel whom techniques within the state where the home is situated to offer counsel concerning the liberties of other lienholders. We actually don’t know exactly exactly what liberties the judgement owner might or might not have in a state and I also would doubt that any loan would shield you against other judgements. Continue reading →