By Tyler Plack
Tyler Plack is the Chief Executive Officer of South River Mortgage. He joined the company as a founding employee in 2017 and served as President before becoming CEO in 2026. Tyler holds an active FHA Direct Endorsement (DE) underwriting certification.
Existing loan: how to contact your servicer
Read the due-and-payable notice and contact the servicer promptly.
Ask for the response deadline, repayment options, documentation and any available extension in writing.
Do not assume that an extension is automatic.
In this article3 sections
Keeping, selling or transferring the home
If heirs want to keep or sell the home, ask the servicer which HECM repayment and transfer rules apply to the loan and proposed transaction.
A HUD-approved housing counselor or attorney can help you understand the options.
Ask the servicer and an attorney about any proposed transfer of the property and its consequences before signing.
Preparing your family
Read the due-and-payable notice and contact the servicer promptly. Ask for the response deadline, repayment options, documentation and any available extension in writing. Do not assume that an extension is automatic. If heirs want to keep or sell the home, ask the servicer which HECM repayment and transfer rules apply to the loan and proposed transaction. A HUD-approved housing counselor or attorney can help you understand the options. Ask the servicer and an attorney about any proposed transfer of the property and its consequences before signing.
Frequently asked questions
What should heirs do after receiving a notice?
Read the due-and-payable notice and contact the servicer promptly.
Ask for the response deadline, repayment options, documentation and any available extension in writing.
Do not assume that an extension is automatic.
What if heirs want to keep, sell or transfer the home?
If heirs want to keep or sell the home, ask the servicer which HECM repayment and transfer rules apply to the loan and proposed transaction.
A HUD-approved housing counselor or attorney can help you understand the options.
Ask the servicer and an attorney about any proposed transfer of the property and its consequences before signing.
Use our reverse mortgage calculator to explore your options, or call 844-230-6679. No pressure. No obligation.
For a new reverse mortgage, request a personalized quote from South River Mortgage.
