Fairfax County · Virginia

Sell Your Reverse Mortgage House Fast in Reston

When a Virginia homeowner with a Home Equity Conversion Mortgage (HECM) passes away or permanently vacates the property, HUD regulations require the loan servicer to issue a Due and Payable notice, giving heirs or the estate typically 30 days to respond with their intended resolution — sell, refinance, or deed-in-lieu — with extensions of up to six months available under HUD Mortgagee Letter 2015-03 if the heir is actively pursuing a sale. Virginia's non-judicial foreclosure law means that if the estate misses these deadlines without communicating with the servicer, the servicer can move from the initial notice to a trustee's sale under the same compressed Virginia timeline that applies to conventional mortgages — often 60 to 90 days from formal default — leaving heirs very little cushion. The HECM loan balance often exceeds the home's current market value in older properties, but because HECM loans are FHA-insured, heirs are protected from any deficiency — they walk away owing nothing beyond the home itself, and a cash sale for whatever the property will bring satisfies the loan in full through FHA's assignment process. We have closed HECM short sales on Virginia properties and work directly with servicers including Celink, PHH, and Nationstar to ensure compliance with HUD timelines so heirs avoid the stress of a trust foreclosure on top of the grief of losing a parent.

• Close before the HUD/servicer 30-day deadline
• We work directly with the HECM servicer for you
• No out-of-pocket costs to the estate
• Heirs protected from deficiency on FHA-insured HECMs