We know that reverse mortgages are not for everyone, because not everyone qualifies to take out a reverse mortgage. Check out below if you are eligible:
You must own your home. All of the owners must be at least 62 years old or older.
Your home must be your principal residence - which means that you must live in it more than half the year.
For the federally insured Home Equity Conversion Mortgage(HECM), your home must be a single-family property, a 2- to 4-unit building, or a federally approved condominium or planned unit development (PUD). For a Fannie Mae Home Keeper mortgage, you must have a single-family home or condominium.
The value of your home must qualify to satisfy any existing liens.
If you have any debt or lien against your home, it can be paid off at the reverse mortgage settlement.
My goal is to insure that you feel comfortable about the ins and outs of a reverse mortgage. If I can help you make next month better for you than this month, then our mutual goals will be achieved.
Reverse Mortgage Man
(866)800-0280
www.moneywise123.com
http://forum.moneywise123.com
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