QUESTION:

Reverse mortgage on Land

Is it possible to get a reverse mortgage on land?
asked by mlovett, 12/28/2009
Categories: Reverse Mortgages
ANSWERS:
Answered by: Editorial, 01/05/10
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A Reverse Mortgage may only be secured on your primary residence.

In some cases a Reverse Mortgage may be secured on a mobile home -- if it is your primary residence -- that is on land that you own (not leased).

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Answered by: whyhecm, 02/19/10
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If you had a house on it, yes. You can now use a reverse mortgage to purchase an owner occupied home.



Anthony
www.freeHECMguides.com
866-640-5722 ext. 126

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