Reverse Mortgage Agreement Gives Omaha Family Trouble - FOX 42: Omaha News, Sports and Weather; |

Reverse Mortgage Agreement Gives Omaha Family Trouble

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OMAHA (KPTM)- Reverse mortgages have worked out well for many families. A senior gets a lump sum of money on which to live and it is paid back when the home is sold.

"It's been nothing but heartache for me," said Tammie Benish of Omaha.

She is trying to sell her mother's home. Fern Benish, Tammie's mother, passed away in May.

"I keep getting letters, one was a foreclosure note," said Benish.

She is not listed as an executor of her mother's affairs. The reverse mortgage company cannot allow her to sell the home as the owner because of it.

"I have done all the required paperwork that the reverse mortgage company needs," said Benish.

She has also hired a probate attorney to help her become her mother's estate's executor.

Meantime the reverse mortgage company wants the house sold.

There is one sure-fire way of avoiding that scenario.

"Get a will. Everyone from 25 to 85 should have one," said Jody Smythe of Security 1 Lending.

"If the family had a will in place, it would not have this problem and they would have been able to settle the matter in a timely manner with the heirs getting the proceeds from the sale of the house," said Smythe.

Anyone 60 or older can get a free will done by contacting Legal Aid of Nebraska.

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