If I get a reverse mortgage loan and pay it off can I get another one later?

Absolutely. Because these loans are only available on your primary residence, you can only have one at a time. There is no limit to the total number you can have over time, but only one at a time. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ Licensed in California and Arizona ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Yes. I am a local lender here in Utah and can help you with your financial mortgage needs. Please give me a call me when you get a chance at 801-971-6901 or you can always go to my website to get started at www.carlo.blueroof360.com and Thank you. Carlo

Yes it is possible.

what are you planning to do ? purchase? refi?? are you age qualifed? linda yourloanpartnerforlife@live.com i can lend in your state..

Yes you can. A reverse mortgage is just a mortgage that you don't have to make a payment on. If you pay it off and then decide to get another one later you can do that, the only thing with the changing reverse mortgage laws you may not qualify for as much later. You can go to www.reverseutah.com to learn more or call me at 801-372-9636 to set up a free in-person consultation at your home.

Yes, as long as you and the property qualify. Next month HUD is revising the Reverse Mortgage program, and will be implementing Credit and Income requirements. Additionally, it appears as if the standard fixed interest rate program will be discontinued, and the amount of equity that can be converted into cash may be reduced. We don't know what the next generation of the Reverse Mortgage program will look like, until HUD informs us - but we do know it's going to change, and some of the things being considered.