Posted on: 23rd Nov, 2012 01:33 am
Hi there… I was planning to take out a reverse mortgage. I read that it is a loan against the equity in the house. The loan gets paid back after death, when the house is sold. I have 100% equity in my house. Will I be able to get a reverse mortgage? How to get a loan against the value of my house?
Your property is free and clear. This is one of the best situation in which you can qualify for a reverse mortgage. However, you should be a senior citizen (62 or more years of age) in order to get a reverse mortgage.
Give me a jingle and I'll help you with it (I'm with a bank and offer Reverse Mortgages in every State), and am available this weekend.
