Posted on: 17th Jul, 2010 07:58 pm
the mobil is to old so can just the property that it is setting on be used for a reverse mortage
It is quite difficult to qualify for a reverse mortgage on a mobile home. As far as I know, you cannot do a reverse mortgage on a piece of land which is undeveloped. There has to be a residence on the property for a reverse mortgage to take place. In addition, your residence must be FHA approved.