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Some lenders don’t do reverse mortgage loans on manufactured homes at all. The good news is that there are plenty of lenders that do allow manufactured homes, and the property type is definitely acceptable to HUD—with some exceptions.
Are you under the impression that you will easily be able to make all financial decisions for your spouse should he/she become incapacitated?
Non-borrowing spouse can remain in the property after the borrowing spouse has passed away, assuming they meet the requirements
As of April 27, 2015, the rules for obtaining a reverse mortgages require the applicant to pass a three-part qualification: credit history analysis, residual income test, review of extenuating circumstances, or compensating factors.
One of the first steps in determining whether you should take out a reverse mortgage is by taking a look at how your family views your home equity.
A reverse mortgage is a great idea for seniors who might be facing a financial shortfall in retirement.
When you can’t rely on retirement savings alone, a reverse mortgage can help bridge the gap between near-poverty and comfort.
Splitting your home equity as part of a divorce by using a reverse mortgage to make the fifty percent equity payment can be a low risk way of taking care of the spouse that will no longer occupy the property.
HUD/FHA allow you to refinance a reverse mortgage if there is a net tangible benefit to doing so.
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Premier Reverse Mortgage, LLC
1640 Powers Ferry Rd SE
Bldg. 28, Ste. 300
Marietta, GA 30067
(800) 996-5361
info@premierreverse.com
