reverse mortgage with no equity and little income

Based on the information you provided, probably not at this time. Reverse Mortgages generally lend between 50 & 60% of the appraised value. The rest is a reserve from which the accrued interest gets paid from. The great part about reverse mortgages is the borrower need not document any income at all to qualify, just sufficient equity in the home.

Your house would have to appraise for around 410K for most lenders to consider a reverse mortgage. To give you an idea of what your house is worth, talk to a realtor to see if they can look at comparable properties around West Yellowstone that have recently sold.

Not at this time.. you do not have sufficient equity. There are no income restrictions, just equity guidelines.. WilliamAcres.com

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