Yeah I'm with Don here, I don't get it. A reverse mortgage wouldn't have a payment. The circumstances are strange. If you are simply giving her 30K of equity and she is carrying financing for you, where you cover her payment, thats pretty strait forward. You just have to ensure you don't trigger the Due on Sale Clause, but most banks don't trigger them if they are getting paid on time.
Having said that, Id never ever go out of my way to inform them. Just quietly keep making the payment. Keep in the back of your mind that if you ever do get a notice that they are triggering the clause that you will need to get alternative financing in place.
If this is not whats happening....ya got me.
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