I hold a mortgage memo and they said they are getting a reverse mortgage on it. Is this permitted?
they are under sixtytwo and are not living in the mobilehome.
Answers:
Your note will inevitability to be satisfied for them to do that. Does a mobile home qualify for a mortgage? Is the note you hold on report at the county courthouse?
you can't achieve a reverse mortgage on a mobile home and I think you have to be living within the house and be OLDER than 62 or so, and there can be NO mortgages on the property
Well it can't be a administration backed reverse mortgage. If they aren't living there, they don't qualify.
What they say and what they can do are two different things.
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Answers:
Your note will inevitability to be satisfied for them to do that. Does a mobile home qualify for a mortgage? Is the note you hold on report at the county courthouse?
you can't achieve a reverse mortgage on a mobile home and I think you have to be living within the house and be OLDER than 62 or so, and there can be NO mortgages on the property
Well it can't be a administration backed reverse mortgage. If they aren't living there, they don't qualify.
What they say and what they can do are two different things.
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