Reverse Mortgage
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Reverse Mortgage

This forum promotes education about the FHA Guaranteed Home Equity Conversion Mortgage (HECM) and other proprietary reverse mortgage products.


HALF EQUITY NOW - HALF LATER IF NEEDED

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Reverse Mortgage :: Reverse Mortgage Basic Information :: Legal information about Reverse Mortgages

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Post  Nini Stone Tue Feb 05, 2008 10:02 am

Wonder if you can get 1/2 of the equity now and 1/2 of the equity later if needed.

Nini Stone

Posts : 17
Join date : 2008-02-04

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Post  Nini Stone Thu Feb 07, 2008 12:09 pm

What I mean is can I get the loan for 1/2 the worth of my equity. Then if I decide I want another can I renew or update my loan for the rest?

Nini Stone

Posts : 17
Join date : 2008-02-04

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Post  Sun Shine Fri Feb 08, 2008 1:42 pm

I don't know about that but you could get a credit line and use only the amount you need.

Sun Shine

Posts : 20
Join date : 2008-02-05

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