Reverse mortgage

http://www.hud.gov/offices/hsg/sfh/hecm/hecmabou.cfm

Hi Rubjd,

There is no such fixed limit on the amount you can owe on your home and still qualify for a reverse mortgage. But, the lesser the amount owed, the higher sum of money you can borrow from the lender. And, lenders require that the existing debt against your home should be paid off with the loan proceeds in the reverse mortgage.

Thanks,

Sara.