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<p class="MsoNormal">I have a nephew who is helping his uncle out in later years. Uncle has a reverse mortgage eating up equity in his home with a current balance well below FMV. Nephew is also helping out with monthly bills. Nephew wants to front the money
to pay off the reverse mortgage and substitute his own DOT in first position. The note and DOT will increase as he makes advances to the uncle. We are planning on closing through a title company and getting title insurance for the nephew – any special considerations
here?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-family:"Berlin Sans FB","sans-serif"">Andrew Hay<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-family:"Berlin Sans FB","sans-serif"">Hay & Swann PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Berlin Sans FB","sans-serif"">201 S. 34<sup>th</sup> St.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Berlin Sans FB","sans-serif"">Tacoma, WA 98418<o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-family:"Berlin Sans FB","sans-serif""><a href="http://www.washingtonlaw.net/"><span style="color:#0563C1">www.washingtonlaw.net</span></a><o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-family:"Berlin Sans FB","sans-serif""><a href="mailto:andrewhay@washingtonlaw.net"><span style="color:#0563C1">andrewhay@washingtonlaw.net</span></a><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-family:"Berlin Sans FB","sans-serif"">253.272.2400 (w)<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Berlin Sans FB","sans-serif"">253.377.3085 (c)<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Berlin Sans FB","sans-serif"">THIS IS A CONFIDENTIAL COMMUNICATION AND IS INTENDED FOR THE DESIGNATED RECIPIENT ONLY. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY THE SENDER IMMEDIATELY AND
DESTROY ALL COPIES<o:p></o:p></span></p>
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