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Reverse MTG

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Icon Mini Profile raybegin





Joined: 02 Sep 2010

Posts: 1

1.00 Dollars($)
Post Posted: Thu Sep 02, 2010 3:17 am    Post subject: Reverse MTG
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I have a new 2005, manufactured home, no mtg, in a land owned co-op, in Bradenton, Florida. Value $175K. I am told that reverse mortgages are now being written on this type of home but I need a lender. Any help to finding a lender would help!
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10148
Location: Nevada
941.94 Dollars($)
Post Posted: Thu Sep 02, 2010 10:20 pm    Post subject:
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Hi raybegin,

Manufactured homes qualify for a reverse mortgage. You should contact the local lenders and apply for a reverse mortgage. If you're 62 years of age, you would be able to qualify for it. This community has a large number of lenders. You should seek a no obligation free mortgage quote from them and check out whether or not you would get a loan.

Thanks
R Begin

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Post Posted: Fri Sep 03, 2010 5:37 am    Post subject: REV MTG
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What I am looking for are some lenders in the my area of FL. I am 71 years old.
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10024
Location: Alaska
918.46 Dollars($)
Post Posted: Fri Sep 03, 2010 9:43 pm    Post subject:
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Hi Begin!

Welcome to forums!

You can contact the local lenders in your area and check out if they can help you with a reverse mortgage. Your property should be free and clear of any other liens when you apply for a reverse mortgage. Moreover, it should be your primary residence.

Feel free to ask if you've further queries.

Sussane
Juan L Rodriguez

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Post Posted: Mon Sep 06, 2010 6:54 am    Post subject: Coop Manufactured home
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Hi while some Manufactured homes qualify for a Reverse Mortgage and coops too, Coops are not approved for Florida yet.
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