Posted on: 11th Sep, 2010 09:55 am
Are Park Model Homes / Cabins eligible for reverse mortgages from any source?
The home would be sited on property (owned free and clear) with a greater value than the home itself.
Thanks...
Peter B.
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The home would be sited on property (owned free and clear) with a greater value than the home itself.
Thanks...
Peter B.
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Welcome bunnz,
Not all lenders will be ready to give you a reverse mortgage on Park Model Homes or Cabins. You need to speak to the local lenders and check out if you can get a reverse mortgage on the same. However, you should be at least 62 years of age in order to get reverse mortgage.
Not all lenders will be ready to give you a reverse mortgage on Park Model Homes or Cabins. You need to speak to the local lenders and check out if you can get a reverse mortgage on the same. However, you should be at least 62 years of age in order to get reverse mortgage.