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re: Parents considering Reverse Mortgage

Posted on 1/12/23 at 11:29 am to
Posted by lsu13lsu
Member since Jan 2008
11488 posts
Posted on 1/12/23 at 11:29 am to
quote:

If you're parents can use the equity of their property, it's an option they can consider. This statement does not indicate intent of support or nonsupport by bestbanker. Information is the key to knowledge.


Will banks lend to retirees with basically just social security income?
Posted by BestBanker
Member since Nov 2011
17490 posts
Posted on 1/12/23 at 5:45 pm to
quote:

Will banks lend to retirees with basically just social security income?

This depends, but the answer isn't just a no.

I'm not familiar if traditional banks create reverse mortgages. I'm thinking it's a reverse mortgage lender that would.
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