Posted on: 19th Apr, 2012 10:43 am
Hi
My name is Mary Sevigny. I am 53 years old and I am looking to do a reverse mortgage on my home that I don't owe a penny on. I would like to borrow 30000.00 in order to pay my bills under my SSI kicks in which could take up to a year. i am disable. Please advise.
My name is Mary Sevigny. I am 53 years old and I am looking to do a reverse mortgage on my home that I don't owe a penny on. I would like to borrow 30000.00 in order to pay my bills under my SSI kicks in which could take up to a year. i am disable. Please advise.
For a reverse mortgage you can not apply until age 62...I would recommend going to your local bank and open a home equity line of credit. Once your SSI comes in, you can repay that debt. Then once you are 62, apply for a reverse. Good luck
Hi MarySevigny!
Welcome to forums!
Your age won't allow you to do a reverse mortgage. As Chris has said, you need to be 62 years old in order to qualify for a reverse mortgage.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your age won't allow you to do a reverse mortgage. As Chris has said, you need to be 62 years old in order to qualify for a reverse mortgage.
Feel free to ask if you've further queries.
Sussane
