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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).
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.