Posted on: 22nd Jul, 2013 12:19 am
I cannot decide whether I should go for a reverse mortgage or a normal conventional mortgage. If I go for a conventional mortgage, then I will have to go for a room-mate. I need to decide fast. I need info. Please help!
Hi Stelphy,
You can only go for a reverse mortgage if you are 62 years or more of age. If you haven't reached that age, then you will have to go for a conventional loan.
Take care
You can only go for a reverse mortgage if you are 62 years or more of age. If you haven't reached that age, then you will have to go for a conventional loan.
Take care
Hi Stelphy!
Welcome to the forums!
Sara is right. May be the option of reverse mortgage will not be available to you. In that case, conventional loan will be the option to go for.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Sara is right. May be the option of reverse mortgage will not be available to you. In that case, conventional loan will be the option to go for.
Feel free to ask if you've further queries.
Sussane
What is your age Stelphy? Are you aware of the fact that you don't get a reverse mortgage loan unless you're 62? This is a special loan program for the seniors.