I guess my Title asks it all.... a seller wants to Sub To his house to us that contains a Reverse Mortgage, (the father who put the Reverse Mortgage is in a nursing home)... we were going to Lease Op it straight away....

I am getting those butterflies in my stomach though, not so sure of the Reverse Mortgages and how they behave in these circumstances.... anybody have any knowledge and/or experience with them in this capacity?

thank you
Merry Christmas

I've never found myself in such a situation. I'd speak with an attorney first in this case. Too much at stake not to do so: your reputation and your wallet.

thank you Michael.....Yupper... I am very nervous about the reverse mortgage, the daughter told us that when the father dies, any monies must be paid back... I would rather leave this one alone, but my husband (bull headed as all get out) just hears the "I just wanna give you my house" part.
Harder part is that to speak to an attorney about it, our attorney just tells us that it is illegal to even take a house sub to... so we get nowhere there anyway.

Elisa, find an attorney who is either a real estate investor himself, or is at least hands on with other real estate investors. Try contact your local REIA for a recommendation.