A everse morgage is basically selling your property, but you get to live in it until it's totally sold.
She sold her horse farm to the bank - it's likey really an investment business, more like a loan shark than a bank. Anyhow, she sold the property, and is collecting the payments slowly while still living there.
You would need to buy the property from the bank/ investmet place, the lady don't have anything to do with it any more. She's basically a squatter at this point, no say on the property.
They will not make you any deals, they bought the property with the idea of turning it around and making bucks off of it whenever they get it paid off.
There are a few cases where a reverse morgage can make some sense, but mostly not, sounds like, as you say, they just used the proprty for cash and will need to walk away some day with no planning.
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Today's Featured Article - Trailering Your Tractor - by Curtis Von Fange. One of the fun things of summer and fall are the parades and tractor shows that go on across America. Many owners of tractors travel long distances to attend these shows and they usually take their restored iron along with them. Safe trailering practices and inspections will ensure that the event is a fun one. A good habit to develop when using a trailer is to give that ‘quick look over’ before taking it on a trip. Before hooking up to it check the tongue for proper operation. The latche
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