Question on mortgage or home equity loan on my property

[reversemort 0]

I currently have a mortgage or home equity loan on my property? Can I still get a reverse mortgage?

 

[2ndTimeAround 260]

I currently have a mortgage or home equity loan on my property? Can I still get a reverse mortgage?

 

It depends on how much equity you have in your property.  

 

Years ago as a LO, the main requirements for a reverse mortgage was 62 or older, plus the LTV score 50% or lower.  Spoke to many people about them, though I never sold one.  

 

Also discussed with many children after a death of a patent that had a reverse mortgage.

 

If you have family, do not recommend reverse mortgages because it is a nightmare for your siblings to save your home.

 

My $00.02

 

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