Reverse Mortgage Seniors
Live Your Life
Live Your Life
The Basic Requirements Reverse Mortgage The first qualification for a reverse mortgage in America is the borrower has to be at least 62-years-old. Although there are absolutely no credit requirements or minimum income, there are certainly no other requirements and homeowners should ensure they qualify for the loan prior to investing time and money into the entire process. The funds can be used for any purpose for most reverse mortgages. However, the financial borrower must pay off any mortgage which exists with the reverse mortgage proceeds and personal additional funds if necessary. A pending bankruptcy normally slows the whole process.
