Reverse Mortgage On Commercial Property

Borrowers age 62 and over can obtain a reverse mortgage on properties that are 1 – 4 family units that comply with HUD eligibility requirements. It sounds like your property does meet the HUD requirements but only a review of the actual home could say for sure on that count.

WASHINGTON – The federal housing administration will now require lenders originating certain new reverse mortgages to offer a second property appraisal in cases where property valuations may be.

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