Sure it can. Call me later on today and I can set it up to make sure that happens: 815-690-8000. My name is Carlos Alers, I'm the Branch Manager for Open Mortgage in Schaumburg. your answer here
Hi, Yes, you certainly can. With any reverse mortgage, exsisting mortgages must be paid off. The pay off funds are subracted from the available reverse funds. There are several options to receive monies from your reverse and taking the exisisting pay off into consideration should help you choose what kind of reverse loan and how to receive the funds. Please contact me personally with any other questions. Regards, Jeff ThireySr. Loan OfficerGreat Mortgage/ DM Financial630.262.0401 630.253.9915
The home loan that your children would apply for has nothing to do with the reverse mortgage that you are applying. Make sure that you speak with an estate planner to help guide you and your children through the process and the tax consequences.
Ask our community a question.