Consumption and Real Estate
Is an annuity refundable against a reverse mortgage loan if the borrower dies before annuity payments are made?
Question : Is an annuity refundable against a reverse mortgage loan if the borrower dies before annuity payments are made?
My Mother had a reverse mortgage loan for about nine years. At the start of the loan ,an annuity premium of $ 3735.00 was added to the to the loan. This was to pay her if she lived 14 years into the loan.,but she did not . Should that amount be deducted from the total amount of her loan?
reverse mortgage loan
Best answer:
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Dan J