My question involves estate proceedings in the state of: Wisc. Can anyone explain to me exactly what happens to the home of a deceased person that has a reversed mortgage on the home. I thought we were originally told that if the house was going to be sold after death that we (the children) would have ONE year to sell the property as long as we notified the mortgage Co. of our intentions. We were told that we had to stay in contact with the mortgage Co. and could be given 90 day extensions up to 1 year. Now we are being told the house has to be put up for sale within the first 90 days. We are still trying to clear out the house of personal items before putting it up for sale. Something doesn't seem right.
Reverse Morgage After Death
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