Reverse Mortgage US

To qualify for a reverse mortgage in the United States, the borrower must be at least 62 years of age. There are no nominal income or recognition requirements, but there are new requirements and homeowners should be certain that they qualify for the loan before they put substantial moment or money into the procedure. A pending failure which has not been finalized may, however, decelerate the procedure. Some types of dwellings, such as lower-value mobile homes, do not qualify. Before borrowing, applicants must try fiscal guidance from an origin which is approved by the Department of Housing and Urban Development (HUD).