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QUESTION:
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Non FHA/HUD reverse mortgages |
Are any non FHA reverse mortgages available? We do not
qualify for FHA because we are on a private road. Do any lenders make conventional reverse mortgages?
I understand 90% are FHA/HUD...can I get information on who makes the other 10% |
 | asked by 2oldcodgers, 7/15/2009 |
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Categories:
Reverse Mortgage, Reverse Mortgages
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| ANSWERS: |
| Answered by: JBerman47, 07/16/09
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While there likely are a handful of private or proprietary reverse mortgages still available, almost all of such programs were eliminated as casualties of the credit crunch of 2008. Private financing for reverse mortgages has become nearly impossible to attain, and as a result, nearly all proprietary reverse mortgage programs have been placed on indefinite hiatus. Login to rate this answer: |
| Answered by: whyhecm, 08/24/09
Overall Rating: Be the first to rate it. |
Hello,
I am not aware of non-FHA reverse mortgages at this time. I can tell you from years of doing reverse mortgages that even though you may not have been approved with one lender, this does not mean another may not approve you. I have worked with private roads before, and alot of it has to do with the title company and lender you use. Feel free to contact me.
Anthony Limon
Branch Manager
www.whyhecm.com
866-640-5722 ext. 126
anthony@whyhecm.com Login to rate this answer: |
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