WHAT ARE THE REQUIREMENTS

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WHAT ARE THE REQUIREMENTS

Post  Foster Brown on Tue Jan 29, 2008 8:05 pm

What are the requirements? Do both husband and wife have to be over 61 years old.

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Re: WHAT ARE THE REQUIREMENTS

Post  Linn F on Tue Feb 05, 2008 9:43 am

Surely only one has to be 62 or older. There are alot of people marrying younger spouses these days.

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Re: WHAT ARE THE REQUIREMENTS

Post  Sun Shine on Thu Feb 07, 2008 11:11 am

To qualify for a reverse mortgage, you need to be 62 or older and own and reside in your home. You do not need to meet any income guidelines, because the loan is based on the value of your home, not your income. You do not need to have any income at all to get a reverse mortgage. You can obtain a reverse mortgage to generate an income for yourself.

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