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 - Old Time Threshing - by Anthony West. A lovely harvest evening late September 1947, I was a school boy, like all school boys I loved harvest time. The golden corn ripens well and early, the stoking, stacking,.... the drawing in with the tractors and trailers and a few buck rakes thrown in, and possibly a heavy horse. It would be a great day for the collies and the terrier dogs, rats and mice would be at the bottom of the stacks so the dogs, would have a busy time hunting and killing, all the corn was gathered and ricked in what we c
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