If you're planning to sell a home in Mount Vernon with a reverse mortgage, you're not alone. Many homeowners reach a point where they want to downsize, relocate, or pass along the home to family—but the presence of a reverse mortgage can raise questions.

At Team Kelli Lang, we’re experienced in helping sellers in Mount Vernon navigate reverse mortgage sales smoothly and confidently. Here’s what you need to know to move forward with clarity and peace of mind.

1. What Is a Reverse Mortgage?

A reverse mortgage—also known as a Home Equity Conversion Mortgage (HECM)—allows homeowners aged 62 and older to tap into their home’s equity without making monthly payments. Instead, the loan is repaid when the homeowner:

• Sells the home

• Moves out permanently

• Passes away

💡 If you're selling, the reverse mortgage will need to be paid off at closing, just like a traditional mortgage.

2. Can You Sell a Home with a Reverse Mortgage?

Yes, absolutely. Selling a home with a reverse mortgage is completely legal and quite common. The process looks much like a traditional home sale, but with a few extra steps related to paying off the loan.

Key Steps:

• Request a payoff quote from your reverse mortgage lender

• List the home for sale with guidance from a qualified real estate agent

• Pay off the loan using proceeds from the sale

• Keep the remaining equity for your next move or your estate

💡 We help you coordinate with your lender and handle the logistics so you can focus on your goals.

3. How Much Will You Owe at Sale?

Your reverse mortgage payoff amount includes:

• The original loan balance

• Any accrued interest

• Mortgage insurance premiums (if applicable)

• Fees or servicing costs

Because interest builds over time, the payoff may be higher than expected, especially if you’ve had the loan for many years.

💡 We help you calculate estimated net proceeds so you know exactly what to expect before you list your home.

4. Will You Still Have Equity Left?

That depends on a few factors:

• How long you’ve had the reverse mortgage

• The current value of your home

• The local real estate market in Mount Vernon

If the home’s value has risen significantly—or if you took out the reverse mortgage later in life—there’s a good chance you’ll walk away with equity in hand.

💡 We provide a free market analysis to help you estimate your current home value and potential profit.

5. What If You Owe More Than the Home Is Worth?

Reverse mortgages are non-recourse loans, which means:

• You (or your heirs) won’t owe more than the home’s value at the time of sale

• If the loan balance exceeds the sale price, the lender takes the loss—not you

In this case, you can:

• Sell the home and the lender forgives the difference

• Let the home go into deed-in-lieu of foreclosure

• Walk away without liability, as long as the sale is handled correctly

💡 We work directly with lenders and attorneys when needed to ensure a clean and legal transaction.

6. Tips for Selling a Home with a Reverse Mortgage in Mount Vernon

To sell successfully:

• ✅ Request a payoff quote from your reverse mortgage company early

• ✅ Get a local market analysis to determine your list price

• ✅ Prepare the home for showings (we can help with staging, repairs, or decluttering)

• ✅ Price strategically to attract buyers and close quickly

• ✅ Disclose the reverse mortgage to your agent so we can plan accordingly

💡 Team Kelli Lang provides a step-by-step plan tailored to your situation, whether you’re relocating, transitioning into care, or helping a loved one sell.

7. What About Selling After the Owner Has Passed Away?

If you’ve inherited a home with a reverse mortgage, you typically have:

• 30 days to notify the lender

• 6 months to sell or refinance the property

• In some cases, extensions are available if progress is being made

Heirs can:

• Sell the home and keep the remaining equity

• Refinance into a traditional loan if they want to keep the home

• Allow the lender to foreclose, with no financial liability

💡 We help families evaluate all options and take care of the heavy lifting during an emotionally sensitive time.

8. Why Choose Team Kelli Lang in Mount Vernon?

Selling a home with a reverse mortgage comes with its own set of rules—but it doesn’t have to be overwhelming. At Team Kelli Lang, we:

• ✅ Understand the legal and financial requirements of reverse mortgage sales

• ✅ Handle coordination with your lender or title company

• ✅ Offer expert marketing to maximize your home’s value

• ✅ Assist with preparing your home for a smooth sale

• ✅ Provide compassionate support for seniors and families navigating a transition

Whether you’re selling your primary residence or managing an estate, we’re your trusted guide in the Mount Vernon market.

9. Ready to Sell a Home with a Reverse Mortgage? Let’s Talk.

Selling doesn’t have to be stressful—even if you have a reverse mortgage. Let us help you take the next step with confidence, clarity, and full support.

📞 Call Team Kelli Lang at 360-472-4953
💻 Email team@kellilang.com to request your free home valuation and consultation

💡 Your reverse mortgage doesn’t have to hold you back. Let’s create a clear path forward and make your Mount Vernon home sale a success.