UNDERSTANDING REVERSE MORTGAGE

 

Not all homeowners are eligible for a reverse mortgage.  Understanding reverse mortgage requirements is the first-step to take when considering applying. What are the requirements for reverse mortgage?

  • Your home must be your primary residence.
  • You must be current on your loan and/or federal loans, I.e. student loans, etc.
  • You must complete counseling with HUD

Click link for additional requirements https://www.consumerfinance.gov/ask-cfpb/can-anyone-apply-for-a-reverse-mortgage-loan-en-227/

 

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