Anonymous
Posted on: 04th Jul, 2005 12:25 am
I have taken a home equity conversion mortgage. can the lender take my home away if the loan amount exceed my property value?
Hi Richard,
Welcome to the forums.
Let me assure you that even if the loan amount of a home equity conversion mortgage exceeds your property value, your home will not be taken away by the lender. The lender can only claim an amount equivalent to your property value.
For further information, go through http://www.mortgagefit.com/hecm.html
Regards,
Jessica.
Welcome to the forums.
Let me assure you that even if the loan amount of a home equity conversion mortgage exceeds your property value, your home will not be taken away by the lender. The lender can only claim an amount equivalent to your property value.
For further information, go through http://www.mortgagefit.com/hecm.html
Regards,
Jessica.
