[WSBARP] Reverse Mortgage

[Katie Smith Patel]

I am interested in any information or experience regarding the timeline for completing a deed in lieu of foreclosure to turn over underwater reverse mortgaged property to HUD.  Client vacated property and requested that HUD's HECM servicer move forward with a deed in lieu of foreclosure, but it has been almost four months with no word on status and client is getting short on cash to continue paying utilities and property taxes while the property sits vacant.  Does anyone have semi-recent experience with this, in particular, with the timeline and how to expedite?

Thanks in advance -

Katie Patel
Paraclete Estate Planning, LLC
(541) 499-9085 (direct)
112 Genessee Street
Medford, OR 97504

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