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5 posters
Linn F- Posts : 20
Join date : 2008-02-05
Re: HOW DO YOU QUALIFY
Foster Brown Tue Feb 05, 2008 10:39 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.
Foster Brown- Posts : 20
Join date : 2008-01-28
Re: HOW DO YOU QUALIFY
Walter Cabe Thu Feb 07, 2008 10:11 am
I think there are some qualifications concerning the home though. I don't know what they are but it has to do with the condition of the home, trailer, modular home things like that.
Walter Cabe- Posts : 23
Join date : 2008-01-28
Re: HOW DO YOU QUALIFY
Marc Johnson Thu Feb 07, 2008 10:28 am
The type home also makes a difference Your home must be a single family dwelling or a two-to-four unit property that you own and occupy and also some manufactured type are ok
Marc Johnson- Posts : 20
Join date : 2008-01-28
Re: HOW DO YOU QUALIFY
Lizzy B Thu Feb 07, 2008 12:18 pm
You must live in the home and be over 62 years old.
Lizzy B- Posts : 23
Join date : 2008-02-05
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