What Every Family Should Know About Probate & Reverse Mortgages

When a loved one passes away, the family home often becomes one of the biggest decisions adult children and heirs will face. Emotions are high, important deadlines begin, and questions about probate, reverse mortgages, insurance, and selling the home can quickly become overwhelming.

In this episode of Is a Reverse Mortgage Right for You?, host Cheryl Scheidell, Reverse Mortgage Specialist with Barrett Financial Group, welcomes Lydia Wietsma, Probate Realtor with NextHome Power Realty, for an informative conversation about navigating inherited homes with confidence.

Together, Cheryl and Lydia discuss the first steps families should take after the loss of a loved one, common mistakes to avoid, and how probate and reverse mortgages work together. They also explain the options available to heirs, how to protect the home's value, and why seeking professional guidance early can save families time, money, and unnecessary stress.

In This Episode

• The first things families should do after a loved one passes away.
• How to protect and secure an inherited home.
• Why legal and financial steps should come before cleaning out or repairing the property.
• Common mistakes families make during the probate process.
• How reverse mortgages are handled after the homeowner passes away.
• The importance of notifying the reverse mortgage servicer.
• Options heirs have when inheriting a home with a reverse mortgage.
• Understanding the FHA-insured reverse mortgage 95% appraised value option.
• Why reverse mortgages are non-recourse loans and what that means for families.
• How selling a home with a reverse mortgage differs from a traditional home sale.
• What buyers should know about financing, appraisals, timelines, and the closing process.
• How Cheryl and Lydia work together to help families make informed decisions during one of life's most challenging transitions.

Join Us for a Complimentary Lunch & Learn

If you're planning ahead, caring for aging parents, or simply want to understand how reverse mortgages and probate can impact your family, we'd love to have you join us for one of our educational Lunch & Learn events.

Upcoming Events

Tuesday, July 21
Total Wine – Tempe Marketplace (Rio Salado)

Tuesday, July 28
Total Wine – SanTan Village (Williams Field Road)

Complimentary lunch is provided.

Please RSVP with Cheryl to reserve your seat.

Contact Cheryl Scheidell

Cheryl Scheidell
Senior Mortgage Loan Originator | NMLS #886425
Reverse Mortgage Specialist
Barrett Financial Group, L.L.C. | NMLS #181106

Phone: 480-817-4324

Email: cheryls@barrettfinancial.com

Website: ReverseMortgageAndBeyond.com

Radio Show & Podcast: Is a Reverse Mortgage Right for You?

YouTube: Reverse Mortgage and Beyond

Contact Lydia Wietsma

Lydia Wietsma
Certified Probate Realtor
NextHome Power Realty

Phone: 602-363-1720

Email: lydia@arizonapoweragent.com

Website: probaterealtyhelp.com

Need Answers About an Inherited Home?

Whether you're settling a loved one's estate, facing probate, inheriting a home with a reverse mortgage, or simply planning ahead for your own family, Cheryl and Lydia are here to help.

Their combined expertise in reverse mortgages and probate real estate provides families with trusted guidance, helping them avoid costly mistakes and make informed decisions every step of the way.

Thank you for listening to Is a Reverse Mortgage Right for You? Be sure to subscribe, share this episode with family and friends, and join us again for more conversations that help you make the most of your home, your equity, and your future.