Does my dad qualify for an FHA reverse mortgage? See below
His home was paid off in 2010, but he has memory problems and I dont know if theres rules against providing reverse motgages to alzheimers etc home owners. In-home care has gotten costly but we want to keep him at home (thats the way he likes it) and I just can't afford it anymore. Can we use the reverse mortgage for dad? by artuiro78436585 from Macon, Georgia. Nov 26th 2014
WAYNE BLACK (wayne.black)
#7 ranked lender in Georgia - 9 contributions
He has to be mentally competent to get a loan , regardless of the type of loan he is receiving. He may or may not be mentally competent based on your description.You could get a POA or appointed his legal guardian. If you go the POA route there quite a few issues that would need to be discussed. Give us a call 770-844-7200 if you would to discuss, we are Georgia's experts on Reverse Loans ,that's all we do.
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
It's possible, but you would need to be appointed his legal guardian. He must be competent to get any type of loan, or have someone competent legally representing him Also he must be 62 or older to qualify.. 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
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