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Answers (3)
- Pasadenan
- Contributions:21467
Reverse mortgage information is "private" and should not be available to any 3rd party without authorization from any public source nor financial institution.
Besides, the question has nothing to do with why a sold property can still have the same occupants. There are multiple reasons that may occur:
1) rent back
2) covenant agreement
3) foreclosure auction where the financial institution buys the property back, but is not ready to do a REO sale, so lets the occupants stay to avoid a security risk
4) sold to a family member or a transfer to a family trust.
5) two party ownership where one party sells their share to the remaining party.
6) Some "sales" are improperly copied refinance transactions... in which case the Zillow home-details page should have the "report a problem" (under the edit pull down tab under the main photo) used to have the data provider check the county records again.
7) Charitable gift to a 501C3 organization where the organization allows the giver to remain until death. (You will need to speak to the IRS or a financial adviser that specializes in charitable giving for that one).
8) It was a "rental" and the new owners decided to keep the existing tenants.
Besides, the question has nothing to do with why a sold property can still have the same occupants. There are multiple reasons that may occur:
1) rent back
2) covenant agreement
3) foreclosure auction where the financial institution buys the property back, but is not ready to do a REO sale, so lets the occupants stay to avoid a security risk
4) sold to a family member or a transfer to a family trust.
5) two party ownership where one party sells their share to the remaining party.
6) Some "sales" are improperly copied refinance transactions... in which case the Zillow home-details page should have the "report a problem" (under the edit pull down tab under the main photo) used to have the data provider check the county records again.
7) Charitable gift to a 501C3 organization where the organization allows the giver to remain until death. (You will need to speak to the IRS or a financial adviser that specializes in charitable giving for that one).
8) It was a "rental" and the new owners decided to keep the existing tenants.
- FRANK STADLER, "25 Yrs Mtg Lending"
- Contributions:76
Check the county records. You can check to see if the house is sold. YOu can check to see if thier are liens on the house. IF the house was sold maybe they rented the house back from the person that they sold it to.
- David Garofalo, "dvdgarofalo"
- Contributions:105
Great question. I'll wait on the mortgage people to chime in. You could start however by looking at the tax record to see who is listed as the current owner. Also the county records to see if there is a lien on the property. I'm curious, what is your purpose in finding out?
how do you know if someone has a reversed mortgage on their home
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