MVLS advises older homeowners to have open and honest conversations with their families about the potential impact of a reverse mortgage on their heirs, as it can leave them with no choice but to pay off the loan or surrender the home after the homeowner’s passing.
Tag: Aja’ Mallory
Posted inCommentary
Cracking the code on ground rent: A guide to understanding and managing it
Ground rent is a lease agreement for the use of the land a house sits on, and homeowners must pay rent to the owner of the land, which can be redeemed through the Maryland General Assembly.
Posted inCommentary
Cracking the code on ground rent: A guide to understanding and managing it
Ground rent is a lease agreement for the use of the land a house sits on, and homeowners must pay rent to the owner of the land, while Maryland law requires ground rent holders to register their ground rents to legally collect them.