QUESTION:

lin eof credit

want to find out how much i have left to draw on line of credit
asked by nonnie12, 10/15/2009
Categories: Retirement Income, Credit Card Debt, Debt Consolidation, Debt, Reverse Mortgage
ANSWERS:
Answered by: whyhecm, 10/15/09
Overall Rating: Be the first to rate it.

Hello nonnie12,

You should be getting a monthly statement that would tell you how much you can draw out of your reverse mortgage line of credit. Or you can call the servicing dept with your lender and they should be able to give you the information you need.

Have you looked into refinancing your HECM reverse mortgage? With fixed rates as low as 5.56% right now and the lending limit higher you may qualify for additional funds from a reverse mortgage.

Anthony Limon
Branch Manager
866-640-5722 ext. 126
anthony@whyhecm.com

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