Home Buying in Randolph>Question Details

Zaida, Home Buyer in Randolph, MA

If I have a reverse mortgage on a house, could I purchase another in another state?

Asked by Zaida, Randolph, MA Thu Oct 22, 2009

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Heck yes Zaida. You can do it. Reverse mortgage on one, take the money and buy somewhere else. Nothing to stop you.

For more info, read my 5 part blog on the new Sept 2010 FHA reverse mortgage program updates. Link below.
0 votes Thank Flag Link Thu Oct 14, 2010
Sure, but you're going to need to give more details - cash purchase/financed purchase etc.? Financing could be an issue, probably not the purchase.
Web Reference: http://SeattleHome.com
0 votes Thank Flag Link Thu Oct 22, 2009
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