Posted on: 07th Nov, 2010 12:26 am
I have a 2004 double wide manufactured home, built to FHA standards, on .78 acre of private land. The foundation is cement encased cinder block columns going below the frost line with a cement perimeter under the entire house. I still owe just over $100K on a mortgage with my state employee credit union. I am 62 and my wife will be 62 soon. We live in the Wilmington NC area. Can I qualify for a reverse mortgage and who would I contact? Thank you for any information
Once your wife turns 62 years old, both of you can contact the local manufactured home lenders and apply for a reverse mortgage. However, not all lenders will be ready to give a reverse mortgage on a manufactured home.