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Possible to scam the reverse mortgage lender?

Question for all you smarty pants's on here

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My retired dad wants to get a reverse mortgage on his property that would be equal to about 50% of the equity currently in it, at some point it's possible that the loan compounds and becomes greater than the value of the property, so if I wanted to keep the house I'd have to pay more potentially than the house is worth. My choices are to leave them the keys and walk away, or sell it myself and try to settle with them for market price.

So the question becomes, how does the lender protect themselves if I sell the property to a 3rd party to sell at a much lower price than market value to settle the loan, after which they just sell it back to me.

It would be a non-HECM jumbo loan so the terms are a bit different, but the broker said the lender doesn't control the title so I would be able to dispose of the property myself. I'm sure there's fine print somewhere pertaining to this but would be nice to know if there's a loophole there

submitted by /u/whenarentI
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source https://www.reddit.com/r/RealEstate/comments/k3w34v/possible_to_scam_the_reverse_mortgage_lender/
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