QUESTION:

requirements for reverse mortgage

? reverse mortgage available if mobile home is owned & in co-op. both are paid in full. located in winterhaven fl in gated senior park
asked by gj, 2/8/2010
Categories: Retired, Debt Consolidation, Reverse Mortgage
ANSWERS:
Answered by: Raymond Denton, 03/12/10
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Reverse Mortgages aren't available for co-ops at this time. However, they will be available sometime in the future - we're waiting for HUD to release the Mortgagee Letter that authorizes co-ops (we've been waiting since July 31, 2008).

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