• Question
  • No equity can I get a reverse mortgage?

    Asked by someone from Honolulu, HI on 11/18/2013

    If I don't have equity acumulated, can I still obtain a reverse mortgage?

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  • Categories: Reverse Mortgages, Qualifying

Answers

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  • Reverse Mortgages are a loan on the amount of the house equity that you own and since you do not have any ownership in your home, unfortunately there is nothing to take the loan on.

    Please refer to the link below for more information on how these investments operate and how you may qualify for a reverse mortgage once you do gain some equity in your home.

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

    This answer is provided as general information only and provided by students pursuing a degree in Personal Financial Planning at TexasTech University. 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 Plannerâ„¢ as to your unique financial situation.

  • Login to rate this answer:   Answered on 11/26/2013
**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.