Trying to get a reverse mortgage but was told need bank approval

Trying to get a reverse mortgage but was told need bank approval

Residential Real Estate Broker · New York City, NY · Member since 2016 · 142 posts · 21 votes

I've written to several lenders on reverse mortgages, one

of the problems is that my condo doesn't have the FHA

approval, I spoke to someone from FHA pros who

says that he can work with condo to get it but he

wants me to get in writing from my bank for

approval from them?  Since I'm behind in my

mortgage payments will they approve me?

it seems like a catch 22

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  • Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
    9y

    sounds like you need the HARP program

  • Residential Real Estate Broker · New York City, NY · Member since 2016 · 142 posts · 21 votes
    9y

    I will check HARP out

    thanks,

    Pauline

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