length of ownership

If you are referring to a reverse mortgage, there should not be a minimum length of home ownership before getting an reverse mortgage. In fact there is a HECM for Purchase program available where you can use a HECM reverse mortgage to purchase a home if you have a big enough down payment.

If you have any questions you can fill in in the form on the right side of this page to be connected to a lender.

http://www.newretirement.com/Services/Reverse_Mortgage.aspx

If you are referring to a life settlement - historically there has been a two year minimum holding period for the person with the life insurance policy.

Please let us know if this doesn't address your question.

With a Reverse Mortgage, it depends on how you obtained the property. If it was via a Quit Claim deed, the Lenders would like you to be in the house for 12 months. However, it depends on your situation and your Loan Officer should review your situation with the Lender first, to see if they'll provide an "exception", so you won't have to wait the 12 month period. If an Investor purchased the property, fixed it up, and re-sold it, most Lenders require the homeowner to be in the property for the full 12 months. That's because that scenario is where most of the fraud happens with Reverse Mortgages.