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Old 05-05-2017, 03:34 PM
 
Location: Colorado Springs
15,219 posts, read 10,299,568 times
Reputation: 32198

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The Zoysia grass seems like a great choice but from the article posted here it seems it is only grown from seed or plugs. I am probably getting ahead of myself because although I have my preapproval, my aunt's house had a reverse mortgage so my mom and I are going through all their procedures now to buy it back from them.
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Old 05-05-2017, 06:12 PM
 
Location: Finally the house is done and we are in Port St. Lucie!
3,488 posts, read 3,335,073 times
Reputation: 9913
Quote:
Originally Posted by chiluvr1228 View Post
The Zoysia grass seems like a great choice but from the article posted here it seems it is only grown from seed or plugs. I am probably getting ahead of myself because although I have my preapproval, my aunt's house had a reverse mortgage so my mom and I are going through all their procedures now to buy it back from them.
Please keep us posted on how it's going.

How does that work? You buy it back on the amount owed? I am curious on the process.
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Old 05-06-2017, 09:47 AM
 
Location: Colorado Springs
15,219 posts, read 10,299,568 times
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Yes we buy it back for what is owed on the reverse mortgage. My mother, as executor, is the owner and since the house will appraise for approximately $50K more than is owed to the reverse mortgage company, she will give me that money to fix the house up as it has been sadly neglected since my aunt was so sick the last few years of her life.


If there were no next of kin the reverse mortgage company would just foreclose and sell it themselves.
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Old 05-06-2017, 12:15 PM
 
Location: Finally the house is done and we are in Port St. Lucie!
3,488 posts, read 3,335,073 times
Reputation: 9913
Quote:
Originally Posted by chiluvr1228 View Post
Yes we buy it back for what is owed on the reverse mortgage. My mother, as executor, is the owner and since the house will appraise for approximately $50K more than is owed to the reverse mortgage company, she will give me that money to fix the house up as it has been sadly neglected since my aunt was so sick the last few years of her life.


If there were no next of kin the reverse mortgage company would just foreclose and sell it themselves.
Thanks for the explanation
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Old 05-06-2017, 02:52 PM
 
Location: Colorado Springs
15,219 posts, read 10,299,568 times
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It's actually one of the few reasons I will buy this house as it needs updating very badly and a new roof. If I can't walk away with at least $50,000 I'm not buying it. The inside is dated but not horribly. After the roof, the kitchen will be the first thing I do.
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Old 05-08-2017, 07:17 AM
 
Location: Cape Coral
319 posts, read 611,950 times
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Quote:
Originally Posted by chiluvr1228 View Post
The Zoysia grass seems like a great choice but from the article posted here it seems it is only grown from seed or plugs.
Run from Zoysia, we do not have the right PH. I make a lot of money doing soil remediation and fertilization for zoysia.


If we had a relative PH between 6.5 and 7, no issue. But most of the homes are 7.2 to 7.5.


That means the grass looks yellow and stressed for several weeks throughout the year while we work to lower the PH again and achieve the desired green.
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Old 05-08-2017, 05:14 PM
 
Location: Colorado Springs
15,219 posts, read 10,299,568 times
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Oh my goodness, a townhouse is looking better and better. :-)
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