poodle12
Jan 13, 2011, 08:46 PM
My grandmother passed with outstanding credit cards in her name balance being at least 35,000 in debt. Her husband just recently passed but had no debt in his name. They both owned one home in which a reverse mortgage was taken out. My question is how does this reverse mortgage work? Who sells property and if there is a profit does the proceeds go toward her creditors even though he was the last survivor? Both estates have not been opened yet naming anyone as executor of estate.