“The Cash Offer Company”
Reverse mortgages can be a financial lifeline — until they’re not. If you’ve inherited a house with a reverse mortgage in Virginia, or you’re helping a parent transition to assisted living, you may be wondering: Can we sell this house? The short answer is yes — but time is of the essence. In this guide, we’ll walk you through how reverse mortgages work, what happens when the borrower leaves or passes away, and how The Cash Offer Company helps Virginia families sell fast — before foreclosure sets in.
What Is a Reverse Mortgage?
A reverse mortgage lets homeowners 62+ borrow against their home equity — but unlike traditional loans, the balance increases over time. When the homeowner:
- Moves out permanently
- Passes away
- Fails to maintain taxes or insurance
… the loan becomes due. If it’s not paid off, the bank can begin foreclosure proceedings — often in just 60–90 days.
Can You Sell a House With a Reverse Mortgage in Virginia?
Yes — and selling is often the best way to prevent foreclosure. The house can be sold for the amount owed, or for more — and any leftover proceeds go to the heirs or homeowner.
What If the House Is Worth Less Than the Loan?
If the home’s market value is lower than the reverse mortgage balance, you may qualify for a short sale or deed-in-lieu of foreclosure. The lender will usually accept the appraised value as full satisfaction — especially with FHA-backed reverse mortgages (HECMs).
Steps to Selling a House With a Reverse Mortgage
- Contact the lender and request a payoff statement
- Determine the current market value (or contact a cash buyer)
- Decide if you want to list traditionally or sell as-is
- Pay off the loan at closing and transfer title
Why Families Choose Cash Sales
When time is short and the house needs work, listing with a real estate agent may not make sense. That’s where The Cash Offer Company comes in:
- We buy as-is — no repairs or cleanup needed
- We close in 7–10 days — perfect if you’re on a lender deadline
- We work with heirs and estate attorneys to handle title and probate
- No commissions or fees — you keep more of the proceeds
We’ve Helped Sellers In:
- Richmond and Chesterfield: Children selling inherited homes after a parent’s passing
- Henrico and Powhatan: Seniors transitioning to assisted living needing fast solutions
- Virginia Beach and Roanoke: Families avoiding foreclosure after a reverse mortgage call-in
Helpful Resources
- HUD Reverse Mortgage (HECM) Info
- CFPB Guide to Reverse Mortgages
- Virginia State Government
- The Cash Offer Company
Why Work With The Cash Offer Company
We’re a trusted, family-run home buyer based in Richmond. We specialize in helping families sell inherited homes, houses with reverse mortgages, and properties with tight deadlines. We make fair offers, close fast, and guide you through every step — even if probate or title issues are involved.
Take the Next Step
Need to sell a house with a reverse mortgage in Virginia? Contact The Cash Offer Company today. We’ll give you a fast, no-obligation cash offer — and help you avoid foreclosure or stress during a difficult time.
Contact Information
The Cash Offer Company
Phone: 804-215-4004
Email: info@thecashoffercompany.com
Website: https://www.thecashoffercompany.com/
Disclaimer: This blog post is for informational purposes only. It does not constitute legal, financial, or tax advice. Please consult your reverse mortgage lender, estate attorney, or financial advisor before taking action.
