Note: The DearEsq free 'ask a lawyer' site is offered as a free informational service to the public and is not intended as legal advice. Laws vary from state-to-state, and in addition every situation is unique, and relevant facts may not be known. The answer to the question posed below may not apply to in your state or to your situation. For legal advice in your state and your situation you should consult with an attorney in your state who is familiar with the rules and laws in your state.
Hi, I have had a reverse mortgage for several years. Because of rising costs I have not been able to pay for home insurance for four or five months. I’m 81. The mortgage company is threatening to foreclose and evict me if I do not get insurance within a couple of weeks. All the taxes are paid. Can I be evicted?
Yes, eventually. The terms of your reverse mortgage will specify what your legal obligations are (usually including paying property taxes) and what happens if you don’t do that. If you absolutely can’t afford the property taxes, you are probably better off talking to the reverse mortgage company to see what they can do. They may be able to help you out, or at a minimum soften the transition to a new living situation.
