QUESTION:

Do not own land home sits on

I do not own the land my manufactured home rests on. Am I still eligible for a reverse mortgage.
asked by huie, 1/11/2010
Categories: Mortgages
ANSWERS:
Answered by: Jason B, 01/22/10
Overall Rating: Be the first to rate it.

Unfortunately, no. You cannot get a reverse mortgage on a property located on land you don't own.

Login to rate this answer: 1 Star2 Stars3 Stars4 Stars5 Stars

    Post a New Retirement Topic or Question  
   
   

Retiring with Debt is Not Advised:
Most financial planners agree, retiring with debt should be avoided. Explore these resources from NewRetirement to help eliminate debt:
Tapping Your Home Equity
Mortgage Refinancing
Retirement 101: Retirement Planning and Retirement Risks
Retirement Jobs
Debt Consolidation
Spend 10 minutes with NewRetirement's Retirement Calculator for more strategies and information for a secure retirement.