Reverse Mortgage

Author Message
Icon Mini Profile kipperwitz




Joined: 03 Nov 2009

Posts: 1

1.00 Dollars($)
PostPosted: Tue Nov 03, 2009 4:44 pm    Post subject: Reverse Mortgage

I would like to take out a reverse mortgage on my mobile home in a Mobile Home Park on rented land.
Icon Mini Profile raymond
raymond
Community Experts
Community Experts


Joined: 03 Jul 2009

Posts: 315
Location: Irvine, CA
60.39 Dollars($)
PostPosted: Tue Nov 03, 2009 5:12 pm    Post subject:

HUD doesn't allow any type of mortgage for homes on rented land, including Reverse Mortgages.
_________________
Raymond
www.ReverseMortgageCalculator.org
Icon Mini Profile smithsussane
smith.sussane



Joined: 18 Sep 2008

Posts: 3738
Location: Alaska
561.45 Dollars($)
PostPosted: Tue Nov 03, 2009 8:13 pm    Post subject:

Hi kipperwitz!

Welcome to forums!

I agree with Raymond. Normally reverse mortgages are not available for mobile homes. If you had owned the land, then there would have been some chances of getting a reverse mortgage. Check out a discussion on Criteria for Reverse Mortgages on Mobile Home for more information on this issue.

Feel free to ask if you've further queries.

Sussane
Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit Live Help

Explore the lender near you

Google Map Image

MF Talk



DebtConsolidationCare    Insurance community: We Make You Insurance Smart    CreditMagic: Helping you build up credit


We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0