Help Financial Freedom Reverse Mortgage Short Sale!

Many agents and homeowners have never heard of Financial Freedom as a mortgage servicer as they seemingly only service reverse mortgages. Financial Freedom is a branch of OneWest Bank (formerly known as Indymac) and is the division that handles the servicing of reverse mortgage accounts.

Reverse Mortgage Short Sale

A Financial Freedom reverse mortgage short sale will require a Financial Freedom short sale package along with the general required financials for a short sale package. Reverse mortgages are a FHA product so the transaction with be in line with the Housing and Urban Development Guidelines for a reverse mortgage short sale. Two of the most important guidelines is the following:

• Offer will need to be within 95% of the appraised value
• No relocation incentive

A heir should be able to attempt to purchase a property through a short sale since it is a reverse mortgage.

If you have any questions or would like to discuss your case in more detail, please fill out the form below.

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