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Fallow this link, http://www.city-data.com/forum/real-estate/1239650-property-being-s... there is a lot of good information there.
In a nutshell it is a reverse mortgage and insured by HUD, when listed it has to be an arms length transaction. Seller wont make any repairs, but those required by local municipalities, HUD or VA.
I guess it is from RMS
This is a Code of Federal Regulations citation which can be searched for at http://www.gpoaccess.gov/cfr/retrieve.html.