Posted on: 27th Apr, 2011 05:59 am
Thanks, another question. The property I am thinking of getting a reverse mortgage on is a two family home that was willed to me. I have left one apartment vacant for my use and the other for my brother and wife. I am currently in process of renovating my apartment. How will appraisers view this situation?
Hi archersusan,
You will be able to get a reverse mortgage if you're 62 years of age. As you're renovating the home, it will increase the home value and you will be able to get a reverse mortgage.
Thanks.
You will be able to get a reverse mortgage if you're 62 years of age. As you're renovating the home, it will increase the home value and you will be able to get a reverse mortgage.
Thanks.
You can start the loan application process prior to the renovation being completed, but it must be complete before you get your Appraisal.
