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beejay31 · Joined: 25 Jul 2010 Posts: 1 1.00 Dollars($)

share which is worth $46,000. My hhome is pproximaely a 1976 nidek -- not sure -- but would like to know if it is possible to get a reverse mortgage? I own the home outright. I am a 79 year old widow and wouold like to be able to fix up my home but am unable to afford to do so. As I said, the share itself sells for $46,000 and I own a share in the cooperartive. Can you give me anym inforrmation?

raymond · Posted: Tue Jul 27, 2010 5:37 pm Post subject:

Reverse Mortgages aren't available for co-ops at this time. We've been waiting since July 31, 2008 for HUD to release a Mortgagee Letter, that'll enable Reverse Mortgages for co-ops, and they haven't done it yet.

And with Manufactured Homes, it must be manufactured after June 15, 1976 to be eligible for a Reverse Mortgage.

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