If my home is paid in full and valued at $170,000, but I took out a reverse mortgage loan for $80,000 as a line of credit with a certain amount set aside for taxes and homeowners insurance a year ago, Can I take out a second reverse mortgage based on the remaining equity?
Jamie on 01.06.2019
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Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040) |
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All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041) |

