Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Can you get out of your reverse mortgage without selling your house? If this man makes you uncomfortable, put your house on the market and move, the sooner the better. Find out from an attorney how to get out of the reverse mortgage.
You took the money, you have to pay it back. The contract and outstanding balance have to be satisfied in some way. You could not work for 6 months and declare Chapter 7 bankruptcy. But I don't think that would discharge a reverse mortgage because there's no "payment due" unless you find a way to trigger it into default. Not paying property taxes or maintaining homeowner's is a good start...
But other than that, it has to be sold in order to close out the loan for a living borrower, if you don't have the cash. The only other trick I know is you can BUY a house using a reverse mortgage. They're not just for homes you currently own. Either use one to pay the old one off, or if they don't like that idea, research a "bridge loan". Bridge loan to pay off the existing RM, then take out an RM on the new property.
Far from ideal, but if your situation is that bad... might as well.
I was the Assistant Manager at a large 55+ community in San Diego, from January thru December 2018. The homes/property were beautiful, the amenities were fantastic, and many lovely residents. BUT, there was a group of fake, immature, petty, entitled, troublemakers that made life miserable for some of the residents and added so much extra work for me.
They called the police over EVERYTHING, constantly complained, and would start crap with undeserving people...even going so far as to pour bleach on, or dig up someone's beloved garden (this was proudly admitted to me!), and getting restraining orders on people in the community they didn't like. Constant drama and negativity caused by these jerks. It was baffling.
Because of this group, I would not consider living in a senior community. I would not want to be surrounded only by retired people. The bad apples have too much time on their hands...whether they join forces, or fight each other, the drama can be felt throughout the community.
As a property manager, I sometimes deal with hundreds of people per day. I see the best of the best and the worst of the worst. I have worked on many properties and can say with much experience that senior communities have the most issues caused by people who don't get along.
Things I'd have to forgo:
Playing Led Zeppelin on 6' speakers.
Thong jogging.
Parties to 6am.
Tiger collection. They are loud when mating. And fighting.
Raising and breeding chickens. Roosters love to greet the sunrise.
Naked pool parties.
I was the Assistant Manager at a large 55+ community in San Diego, from January thru December 2018. The homes/property were beautiful, the amenities were fantastic, and many lovely residents. BUT, there was a group of fake, immature, petty, entitled, troublemakers that made life miserable for some of the residents and added so much extra work for me.
They called the police over EVERYTHING, constantly complained, and would start crap with undeserving people...even going so far as to pour bleach on, or dig up someone's beloved garden (this was proudly admitted to me!), and getting restraining orders on people in the community they didn't like. Constant drama and negativity caused by these jerks. It was baffling.
Because of this group, I would not consider living in a senior community. I would not want to be surrounded only by retired people. The bad apples have too much time on their hands...whether they join forces, or fight each other, the drama can be felt throughout the community.
As a property manager, I sometimes deal with hundreds of people per day. I see the best of the best and the worst of the worst. I have worked on many properties and can say with much experience that senior communities have the most issues caused by people who don't get along.
Things I'd have to forgo:
Playing Led Zeppelin on 6' speakers.
Thong jogging.
Parties to 6am.
Tiger collection. They are loud when mating. And fighting.
Raising and breeding chickens. Roosters love to greet the sunrise.
Naked pool parties.
I don't think they would accept me.
Lol i don't know, that sounds about accurate for some. I've dealt with much more naughty seniors than youngsters haha
I hear ya but l'll tell you: These people exist everywhere else too. Kranky old bastyards with too much time
are less dangerous and less prone to violence than easily angered as young people with a similar sense of entitlement, and alcohol. I'd rather avoid these people completely but if I had to be stuck with them I'd choose the old timers.
Quote:
Originally Posted by jjesman
I was the Assistant Manager at a large 55+ community in San Diego, from January thru December 2018. The homes/property were beautiful, the amenities were fantastic, and many lovely residents. BUT, there was a group of fake, immature, petty, entitled, troublemakers that made life miserable for some of the residents and added so much extra work for me.
They called the police over EVERYTHING, constantly complained, and would start crap with undeserving people...even going so far as to pour bleach on, or dig up someone's beloved garden (this was proudly admitted to me!), and getting restraining orders on people in the community they didn't like. Constant drama and negativity caused by these jerks. It was baffling.
Because of this group, I would not consider living in a senior community. I would not want to be surrounded only by retired people. The bad apples have too much time on their hands...whether they join forces, or fight each other, the drama can be felt throughout the community.
As a property manager, I sometimes deal with hundreds of people per day. I see the best of the best and the worst of the worst. I have worked on many properties and can say with much experience that senior communities have the most issues caused by people who don't get along.
I didn't have much of a choice because I inherited my condo in a FL over-55, but I've seen all the bad things you've mentioned. Cliques, gossips, jealousy, rumors, back-biting, nastiness. I jumped in both feet when I arrived here (running activities, doing the newsletter, being on the Board), but two years ago I dropped out of all community activities because of several vicious incidents directed at me. My social life is almost entirely outside the community now. However, I still have a few friends here -- people I can rely on if I need a ride for a procedure or whatever. Most people here don't have family in the area so we have to rely on one another. And in that sense, over-55 communities can be good for people who are alone.
My 55+ community is small. There are no recreational amenities beyond hiking trails that are networked through the greater neighborhood and into the nature reserve.
People here are helpful and discreet. They keep up their homes beautifully and care about being friendly and kind. I guess I've been lucky in choosing this place. At night, you can hear a pin drop.
The only unfortunate thing is that the paramedics (EMS) visit more than in a normal mixed-age neighborhood. But you get used to that.
LOL I was just about to say the same thing. Some of these posts really have me scratching my head. Like the poster above, I guess we've been lucky in choosing a good community, too.
More than 5,0000 residents here, and the most controversy we had was when a huge pig escaped from a nearby farm and was seen rooting around some of the neighborhoods. Some people wanted to shoot the pig, some thought we should make him a community pet, so there were a few heated discussions as the weeks rolled by and Mr. Pig was still around. But nobody did anything nasty. Geez! People just aren't like that around here, I guess. Everyone was relieved when he finally got caught and the hot topic of the day returned to how noisy some of the pickleball players were.
People pouring bleach in another resident's garden? Wow, sounds more like a bad movie plot than real life to me.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Speaking from first hand experience.
