QUESTION:

home equity loan

My mothers home is paid off and valued at 115,000 and she went an got a home equity loan she owes 86,000 could that loan be switched to a reverse mortgage
asked by littlemac782, 6/1/2008
Categories: Reverse Mortgage, Debt and Mortgages
ANSWERS:
Answered by: Editorial, 06/04/08
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I don't think that the loan could be "switched."

However, she may be eligible for a Reverse Mortgage which could be used to pay off the home equity loan.

To speak with a prequalified reverse mortgage lender, follow this link:
https://www.newretirement.com/Services/Reverse_Mortgage_Advice.aspx

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