Just this...
Neighbor sold her house or took a reverse mortgage...
Can it be bought before she passes?
Anyone have knowledge or experience?

I would say yes. Probably a bit more hoops to jump through and unnecessary checkmark needed between lenders. I wouldn't try to untangle it without a professional overseeing it.

It’s a loan like any other. When she is done with the house she can sell it and pay off the principal and accrued interest to that date.

KC

More than likely; no. The mortgage will be bundled with others and sold as a much larger investment vehicle. These things are a real racket. Now, she is the bank and , depending on what she signed, there may be an avenue to offer her a higher return and flip the reverse mortgage so that you become the "borrower". I feel like you should eb able to carve out one loan, just need to figure out the price borrower is wiling to take. I'd say it carries a steep premium.

YES...

https://reverse.mortgage/buying-seller-has-reverse-mortgage

Yes there is a number of ways of doing this. Be aware the reverse mortgage places are pretty keen on when the people die. They have a window of time where the loan must be paid off in full once that happens. The deal can be structured to deal with that.

A friend of ours has been embroiled in one of these for the last 2 years. She's 1 of 5 sisters. Their mother died a couple years ago. Mom had taken an RM on her house but she was a gambler and blew the whole amount of the loan gambling. It's a financial nightmare. 3 of the 5 sisters won't have anything to do with sorting it out. They just demand their inheritance. The 4th one is willing to help but she's bipolar and a financial dunce. That leaves our friend and her husband to work it out by themselves. I know nothing about what all is involved.

they either have to sell the house or buy it......I think its pretty simple......bob

They'll sell it but because of gambling debts, there are some serious problems. I don't know much more than that.

Title company will sort it out.

This place is full of smarts

Reverse mortgages, whole life insurance, car leases, hunting leases,

Ain’t doing that

If she has reverse mortgage, she pays no payments while she is alive, after her death, her family has 1 year to either pay off the mortgage or sell the house and pay the owed amount. He family can't keep the mortgage or sell the mortgage.

A neighbors mother had a reverse mortgage on her home. When she died the family removed all of her belongings and turned the house over to the mortgage company. He said there were zero issues.

I'd refuse to pay the gambling debt.

Probably still equity in the home.

Like I said, if you want to buy it, get it under contract, and kick it to the title company for a warranty deed. In title land, they will sort it all out, pay off who needs to be paid off and you get a clean title. They are used to dealing with all sorts of issues like trusts, reverse mortgages etc. To get insurance on the title, they get everything settled.

Thanks for ll the advice...
Slumlord's point is valid - so many financial sinkholes people manage to get into

who said there is a gambling debt....said the money was blown on gambling.....doesnt impact the sale of the house...bob

and how is a reverse mortgage a sinkhole?....bob