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
When a family home has both a reverse mortgage and repair needs, separate the loan questions from the property decisions. Gather the mortgage notices, information about the home’s condition and any repair estimates. Confirm who can act for the estate before signing contracts or arranging financing.
In this article4 sections
Establish the loan and estate next steps
Ask the servicer about borrower or spouse protections, the loan’s current status, required documents and any response deadlines. Do not assume an extension is automatic. Ask an estate attorney who has authority to make decisions about the property. Ownership, loan repayment and authority to sign a repair contract are separate questions.
Prepare a repair comparison
Use this worksheet to organize questions, not as a financing or sale recommendation.
| Information to gather | Who to ask |
|---|---|
| Description of each repair and an itemized written estimate | An appropriately qualified contractor |
| Property condition and potential as-is sale considerations | A local real estate professional |
| Loan status, notices and property requirements | The current loan servicer |
| Authority to approve work or sign documents | The estate’s attorney |
| Financing availability, costs and repayment obligations, if considered | The proposed lender |
Keep property obligations in view
For HECM borrowers, property charges, maintenance and principal-residence requirements remain important. The CFPB describes these obligations. If a borrower is still living in the home, ask the servicer how the loan requirements apply before treating the situation as an inheritance. If circumstances have changed, ask which obligations and notices apply now.
Questions families ask
Can we finance the repairs?
Availability depends on the proposed financing and property situation. Ask the prospective lender and your advisers about requirements and costs; this article does not promise a second loan or a renovation program.
Should we repair or sell as-is?
Compare itemized estimates and professional property advice with the estate’s available options. Confirm loan requirements and decision-making authority before choosing.
Does a trust settle the mortgage questions?
Ask an attorney about the trust and authority over the home, and ask the servicer about the loan. Do not assume one answer resolves both.
Our statement guide can help you find account information. Existing-loan questions belong with the current servicer.
