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Reverse mortgage

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ansprayers1331 Joined: 28 Mar 2011 Posts: 1 1.29 Dollars($)	Posted: Mon Mar 28, 2011 8:19 pm    Post subject: Reverse mortgage Like 0 Dislike 0 I am 64, owe 50K on my 2003 double wide sitting on my 7 acres in Florida. I pay property taxes. Do I qualify for a reverse mortgage?
dipaligopale Joined: 25 May 2010 Posts: 790 22.70 Dollars($)	Posted: Mon Mar 28, 2011 11:03 pm    Post subject: Like 0 Dislike 0 Hi ansprayers, Welcome to Mortgage fit, In order to qualify for reverse mortgage.... one should be 1.minimum 62 yrs of age. 2.should be living in the home on which you wish to take reverse mortgage. 3.you should outrightly own the home or else should have very low balance on the mortgage which can be paid off with reverse mortgage payment... These are the requirements to qualify for the reverse mortgage..If you fit in those requirements..You can contact this phone number (800) 569-4287 for online HECM Counselling..You will get further information related to reverse mortgage over there.... Feel free to ask any further query if you have..... DIPA _________________ 1.The best of intentions must still have directions !--Unknown author 2.When I hear somebody sigh, "Life is hard," I am always tempted to ask, "Compared to what?" - Sydney J. Harris
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Tue Mar 29, 2011 12:33 am    Post subject: Like 0 Dislike 0 Hi ansprayers! Welcome to forums! Your query has been replied to in the given page: http://www.mortgagefit.com/discuss/homemobile-reverse-2.html#206620 Please take a look at it. I hope it will help you. Sussane
raymond Community Expert Joined: 03 Jul 2009 Posts: 1189 Location: Irvine, California 27.86 Dollars($)	Posted: Thu Mar 31, 2011 8:43 am    Post subject: Like 0 Dislike 0 So far you qualify, but there's more to it then that. Your manufactured home must reside on a HUD-approved permanent foundation. If it doesn't, you can have one installed and pay for it from the loan proceeds, at funding. A Civil Engineer will inspect your foundation, and let us know if it qualifies. Since you're on 7 acres, you may have a well and septic system too ... which need to be reviewed too. _________________ Raymond Denton www.RaymondDenton.com

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