Posted on: 18th Dec, 2012 03:58 pm
what is the appeal process for a lender to deny a reverse mortgage based on non compliance with shared well requirements
Hi nczubaj,
I haven't heard of a separate appeal process. You should get in touch with the local reverse mortgage lenders and again apply for a loan. The lender will check the property and let you know whether or not you can get a reverse mortgage.
Thanks
I haven't heard of a separate appeal process. You should get in touch with the local reverse mortgage lenders and again apply for a loan. The lender will check the property and let you know whether or not you can get a reverse mortgage.
Thanks
Hi nczubaj!
Welcome to forums!
You should note that in order to get a reverse mortgage, you should have equity in your property and you should be a senior citizen with 62 years or more of age.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You should note that in order to get a reverse mortgage, you should have equity in your property and you should be a senior citizen with 62 years or more of age.
Feel free to ask if you've further queries.
Sussane
In case you want to take out a reverse mortgage loan or in case you want to reverse your plan to take out a reverse mortgage loan, you don't have any option but to contact your lender.
Reverse mortgage loans are aimed for the senior citizens in the country whose age is at least 62. Another criteria to get approved for this loan is that you should own a house as a primary residence and you should have adequate equity in that home.