Ask The Experts
Can Anyone Take Out a Reverse Mortgage Loan?
No. Home Equity Conversion Mortgages (HECMs), the most common type of reverse mortgage loan, are a special type of home loan only for homeowners who are 62 and older. You must either own your home outright or have a low mortgage balance. Owning your home outright means you do not have a mortgage on it anymore.
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MCH of Rockland Inc.
P.O Box 1802
New City
New York, 10956