One thought on “What kinds of homes are eligible for a reverse mortgage?

  1. Arti says:

    You can s There are 2 basic types of reverse mortgages to consider: There are 2 basic types of reverse mortgages to consider: There are 2 basic types of reverse mortgages to consider: There are 2 basic types of reverse mortgages to consider: There are 2 basic types of reverse mortgages to consider: There are 2 basic types of reverse mortgages to consider: There are 2 basic types of reverse mortgages to consider: The property can be a single-family or a two-to-four unit dwelling. The property can be a single-family or a two-to-four unit dwelling. The property must be the borrower’s primary residence and meet HUD minimum property standards (in a few cases, home repairs can be made after the closing of the HECM). This scenario is very typical of how to utilize the reverse mortgage loan. Yes: In this case we simply use the reverse mortgage proceeds to pay off and replace the existing mortgage as well as any other liens on the property. You can sell it, remodel, refinance and pass it along to heirs if you choose.

Leave a Reply

Your email address will not be published.