Retirement Information and Tips
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i tried for a reverse morgage was told no problem until the loan ajuster came and check my house .he was here about 3 mims and told me i was elegable because of no base ment.
we also had to pay $150.00 for the inspection.
why don't you say right up front that the house needs a cellar?
Asked by someone from Mapleton, ME on 10/23/2016
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You should ask the lender for more detail on why this is the case or talk to another lender.
You can read more about eligible house types here: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/hecmabou
If you have a manufactured home, then it has to meet certain specifications.
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