Reverse Mortgage Philadelphia: Here are answers to 5 frequently asked questions about these loans in and around the City of Brotherly Love.
Q1: Would I meet the requirements for a reverse mortgage if I currently have an existing loan on my home?
A1: Yes, but the existing loan must be paid off prior to or at the settlement of the reverse mortgage. Quite often the reverse mortgage is used to refinance an existing loan.
Q2: My property is held in trust. Do I qualify?
A2: Yes, but you must be the primary Trustee and qualified by age. » Read more: Reverse Mortgage Philadelphia – FAQ
