After reversing a mortgage...are you able to request more money from the bank who owns your home?
A woman reversed her mortgage years ago and now she is in a very bad situation with finances. She lives on SS only. Canshe possibly get more money from the bank who reversed her mortgage? Couldn't they just sell the home for more when thetime comes? by nhmayo@hotmail.com from Commerce Twp., Michigan. Aug 5th 2010
Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 228 contributions
Sometimes a reverse mortgage is set up with a line of credit available. If so, she could draw money from that again. If she is much older, she may be able to get more money from her house because of her age, but it will also be dependent upon the current market value of her home.
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