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 sandrasevans
Joined: 01 Nov 2006
Posts: 1
1.23 Dollars($)
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 Posted: Wed Nov 01, 2006 10:47 am Post subject: Reverse mortgages for disabled |
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| can I get a reverse mortgage and not be 62 but I'm disabled |
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Finleon
Guest
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| Posted: Wed Nov 01, 2006 11:04 am Post subject: |
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Hi Sandra,
Sorry hear about your disability. But I am afraid the reverse mortgage programs are for seniors aged 62 or more only.
Finleon |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Wed Nov 01, 2006 12:51 pm Post subject: |
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Hi Sandra,
I too agree with Finleon that only if you were 62 or more, you would have qualified for a reverse mortgage.
If you want some more information on reverse mortgage loans then you can go through this article.
Thanks
James |
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raymond
Community Experts
Joined: 03 Jul 2009
Posts: 315
Location: Irvine, CA
60.39 Dollars($)
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| Posted: Sat Oct 10, 2009 9:28 am Post subject: |
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It depends on the lender. With FHA-insured programs the answer is "no". However, a proprietary Reverse Mortgage may reduce the age. The lowest I've seen is age 60. Unfortuantely, there aren't any proprietary programs available today ... they all went away because of the mortgage crisis. But they'll be back again in the future, and when they come back we'll be able to offer Reverse Mortgages for folks under 62 again.
_________________
Raymond
www.ReverseMortgageCalculator.org |
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dollylee9
Joined: 19 Jul 2009
Posts: 63
-0.18 Dollars($)
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| Posted: Sat Oct 10, 2009 10:12 am Post subject: |
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| To qualify for a reverse mortgage as mentioned above, the borrower must be at least 62 years of age and should have little or no outstanding mortgage balances. The equity available is based on the homeowner age and the value of the home. |
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