I am an 80 year old widow and live alone. Can I qualify for a reverse mortgage on my mobile home by matildaharding from Oklahoma City, Oklahoma. May 25th 2011
Unfortunately the answer is most likely: NO! If it was built before 1978 it is disqualifedDo you own the land it is on? If not, it does not qualifyIs it permanently attached to the ground? It must beDoes it have the HUD ID tag that specifically says it is a HUD approved dwelling? Can't get a Reverse Mortgage without that!Finally, an engineering report will be required by the lender to support these facts and the stability of the property. This costs about $1000.00...I'm sorry to be the bearer of bad news but a lot of people in this business will tell you yes, yes, yes, have you invest your money thrughout the process.Good Luck! I wish you the best and if these variables can be met then you have a good chance but there are still more stones to uncover before you should spend any money out of pocket to find out.
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