Reverse mortgage question
I have a question about reverse mortgages, can you take out a reverse mortgage on a house that you still owe money on, or does the house have to be fully paid off before you can do that? We have value in our house because the property value has increased since we started the mortgage, but we haven't paid it off in full yet. Is a reverse mortgage possible or do we have to wait? Can a reverse mortgage be used to make payments on the current mortgage? by sbellingnew59 from Salisbury, Delaware. Jul 9th 2010
Eddie Stephen (EdtheLoanGuy)
#12 ranked lender in Colorado - 24 contributions
As long as you meet the age and equity requirements for Reverse mortgages, you should be able to get one. If you have questions on how all of that works you can give me a call Eddie 866-218-9696. I have helped many homeonwers work on their reverse mortgages, I would be more than happy to help answer your questionsThanks
Andre Duncan (FlagshipMortgageCorp)
#1 ranked lender in Delaware - 10 contributions
Yes you can. You can call me to discuss further my office number is 302-378-7749 or you can call me on my cell 302-463-7901 to discuss in detail
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