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Can you do reverse mortgage if you currently have a usda mortgage?

by estherholmes129 from Altadena, California. Feb 10th 2014 Reply


Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

You can. You will have to pay it off with the reverse mortgage so you must have enough equity in the property to make all of this work. If you do have the equity, we would have to decide, depending on what your goal is, whether it will make sense for you. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Feb 10th 2014
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Yes. The challenge is, you need about 50% equity in your property in order to qualify. For a quick, 90-second answer, call me, Dave Metsker, at 1-855-620-2239, or primefinancial@frontier.com.

Feb 10th 2014
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

absolutely.. you must be at least 62 years old and have sufficient equity buy down your mortgage to the required Loan to Value percentage for your age.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Feb 10th 2014
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Jamie Lynne (nationwidelenderforyou)
#137 ranked lender in Texas - 576 contributions

Yes you can, if you are at least 62 yrs old and have enough equity in the property to qualify. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been offering reverse mortgages since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

Feb 10th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

yes as long as there is enough equity to pay off the current mortgage.

Feb 10th 2014
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Sure... It doesn't matter what the existing loan is, because you would be paying that off and getting a brand new loan - the reverse mortgage in this case.

Feb 10th 2014
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