| FAQs |
Who Is Eligible For A Reverse Mortgage?
Applicants must be at least 62 years of age and must own their home free and clear (or nearly free and clear). In many cases, borrowers use the reverse mortgage to pay off existing liens of mortgages which eliminates their monthly loan payments. Borrowers must also live in their homes as their primary residence, which means that they should not live elsewhere for more than 365 consecutive days. Your income or credit is not a requirement to qualify for a Reverse Mortgage!
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