I have a question about reverse mortgages and vacant land.
My girlfriend and her sisters have inherited around 90 acres of agricultural real-estate that isn't currently in use. Their mother lives on some of it, but her older sister isn't doing anything with it besides pay taxes. I know they're treefarming 20 acres or so and I was wondering if they could get a reverse mortgage on the land until the lumber is harvested.
It's in poultry country, but they're not chicken farmers. Should they try and make it a tenet farm?
What do you recommend?
Posted Dec 2, 2012, 5:32 PM UTC
67