Can someone get a reverse mortgage if they already have a mortgage on their house?
If my house is worth $340,000 and I have a first and second mortgage that adds up to about $135,000 can I still qualify for a reverse mortgage? Does it depend on how much equity I have in the house or liens on the property? by jamesnjane from Key West, Florida. Jul 7th 2011
Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions
You would need to be at least 62 years old. Your equity and your age is going to be the deciding factor on if a reverse is possible and what the terms are. Seems like you have enough equity, contact a local reverse mortgage lender or loan officer. Good luck
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