“You Don’t Have to Navigate This Alone”
Selling a house with a reverse mortgage can feel like trying to untangle a mess of red tape. In Spokane, Washington, we’ve worked with many homeowners who felt stuck and overwhelmed—but there are real options. Whether you’re downsizing, facing financial changes, or settling a family estate, we’ll walk you through how to sell a reverse-mortgaged home quickly and confidently.
What Is a Reverse Mortgage?
A reverse mortgage lets older homeowners (usually 62+) borrow against their home’s equity. The loan doesn’t require monthly payments like a traditional mortgage. Instead, repayment is deferred until the homeowner sells, moves out, or passes away.
In Spokane, reverse mortgages are common among retirees who want to stay in their homes while accessing some cash. But when it’s time to sell—whether due to health, financial needs, or death—repaying the reverse mortgage becomes a pressing issue.
Can You Sell a House With a Reverse Mortgage?
Yes. In Spokane or anywhere in Washington, you can sell a house with a reverse mortgage. But you’ll need to:
- Pay off the reverse mortgage loan balance in full at closing.
- Communicate with the lender to get a payoff quote.
- Act quickly, especially if the homeowner has passed or moved into assisted living—lenders often have strict timelines for repayment.
When Would You Need to Sell?
Here are some of the most common situations we’ve helped Spokane families through:
- The homeowner has passed away and the heirs are managing the estate.
- The homeowner is moving into assisted living or with relatives.
- The reverse mortgage balance is increasing faster than home value.
- The property has fallen into disrepair.
- The home is no longer practical due to size, stairs, or layout.
- Financial hardship has made property taxes or insurance difficult to manage.
Real Story From Spokane
We helped a local Spokane family whose mother had passed away, leaving behind a home in the Garland District with a reverse mortgage. The heirs were grieving and overwhelmed by the paperwork and deadlines. The house needed repairs and wasn’t worth much more than the loan balance. We stepped in, worked directly with the lender, and helped them sell the house quickly without any out-of-pocket costs. They walked away with peace of mind—and that was priceless.
Challenges You Might Face
Selling a reverse-mortgaged home isn’t always simple. Be prepared for:
- Strict timelines: Lenders typically require the loan to be paid off within 6–12 months after the borrower dies or leaves the home.
- Unpaid property taxes or insurance: These are common defaults in reverse mortgage cases.
- Low or no equity: The loan may exceed the home’s market value.
- Repair issues or code violations that make listing on the open market difficult.
How a Spokane Cash Buyer Can Help
That’s where REI Branded Home Buyer comes in. We work with heirs, families, and elderly homeowners across Spokane—including neighborhoods like South Hill, North Spokane, and Hillyard—to simplify this process.
Here’s what we offer:
- Fast offers with no obligation
- Cash closings in as little as 7 days
- No repairs, no clean-out required
- Help dealing with the lender
- Zero fees or commissions
You Don’t Have to Navigate This Alone
If you’re dealing with a reverse mortgage and need a way out, we’re here to guide you. We’re not here to pressure you—we’re here to offer solutions, clarity, and real help when it matters most.
Contact us today:
📞 509-769-3439
📧 info@reibrandedhomebuyer.com
🔗 Contact Us Here
Disclaimer: This article is for informational purposes only and does not constitute legal or financial advice. Please consult an attorney or financial advisor before making decisions related to reverse mortgages or estate management.
Sell Your Spokane House Fast Today
About REI Branded Home Buyer
Real People. Real Stories. Real Solutions. We’re George and TJ — two regular guys who teamed up to create REI Branded Home Buyer, a local company with one simple mission: to help people sell their homes without stress, games, or pressure. We actually met at a local real estate meetup. A mutual friend randomly shouted, “Hey George, do you want to be this guy’s mentor?” George laughed and said, “Just give him my cell!” A coffee meeting later, and the rest is history. We've been working together ever since. Our passion for helping homeowners comes from personal experience. George was once homeless, so he deeply understands what it’s like to face housing uncertainty. TJ’s family went through a crisis and had to sell their home fast — with the help of a cash homebuyer. Those experiences shaped who we are and inspired us to create a company that treats people the way we wish we’d been treated. Let’s be real: the real estate world is full of shady companies, pushy salespeople, and sleazy homebuyers who care more about profit than people. We started REI Branded Home Buyer because we believe it should be the other way around — people first, profit second. We’re proud to call Spokane home. Our wives, Jenny and Michelle, love the slower pace of life here and all the outdoor beauty Washington has to offer. George and Jenny have two amazing daughters and two dogs — they love to travel and recently visited Japan to see their daughter abroad. TJ and Michelle are outdoor lovers through and through — backpacking, hiking, hunting, fishing, even rock climbing. Michelle’s become quite the mountaineer! If you’re thinking about selling a house — no matter the reason — we’d love to hear your story and see how we can help.