So are you allowed to rent your home with a reverse mortgage? The answer is no! You must live in the home that has the reverse mortgage for at least 6 months and 1 calendar day per year. That is the reverse mortgage definition of being owner occupied. However, one of the little known facts […]
Is your reverse mortgage lender spying on you? Reverse mortgage facts.
Is your reverse mortgage lender spying on you? What happens when you move with a reverse mortgage? Or can your children move into property on reverse mortgage when your parent dies? How does the reverse mortgage lender know if you are still living in the property? The annual notice of occupancy affidavit gets mailed once […]
Can you get a reverse mortgage if your home isn’t paid off? Reverse mortgage facts
Can you get a reverse mortgage if your home isn’t paid off? YES! There are many reverse mortgage facts that people either assume they know or don’t know and this is one of them. Before a HECM reverse mortgage or non-HECM mortgage borrower can use of any reverse mortgage funds, the existing mortgages on the […]