I am about to close on a reverse motgage but lien and loan payoffs have come in much higher than anticipated (double or more).
I now see that interest of 29.85 % is part of one of the jujdgements (since 10/04).
1. Am I stuck with that or could a lawyer or specialist negotiate away the interest?
(I am a 78 year old militry retiree on SocialSecurity.)
2. I also found that there is a baloon payment on another (interrest only) loan.
3. Should I be looking at bankruptcy as my only alternative? (obviously)
4. Is a Governmt grants a possibility?

Hello don:

If the reverse mortgage will PAY off these loans, then they are VERY negotiable. I'd absolutely hire an attorney to close your loan, and negotiate your debt.

I don't think there are grants available that will help. Maybe the new administration will provide for some relief, but I certainly wouldn't count on it.

If you have some equity in your home, I think you can make a deal.

excon

Thanks or the feedack.
I am finding that I may be able to just do a refinance.