NLIC.org

Priscilla Said:

I am 65 and my wife is 60. We own our home JOINTLY. Do we qualify for a reverse mortgage?

We Answered:

Reverse Mortgage Eligibility:
All borrowers must be 62 or older
Must be listed on title of the property Participate in a Reverse Mortgage Counseling session
Must occupy property as primary residence


Type of Properties Eligible for Reverse Mortgages:
Single family homes
Multi-family homes (2-4 units)
Condominiums
Manufactured Homes
Townhouses

hope this helps

Kay Said:

how do i qualify for a reverse mortgage?

We Answered:

Try this resource

Theresa Said:

Can you qualify for a reverse mortgage if you file for bankruptcy?

We Answered:

If you filed for bankruptcy, I would imagine that you don't actually own your house.

Reverse mortgages are for those who
1) are 62 or older
2) own their houses free and clear.