Asked by Retired In Florida, Naples, FL • Mon Nov 29, 2010
I am looking to get a reverse mortgage on my condo which has been paid cash. .
Does the condominium have to be FHA approved? I live in Florida.
I have also heard that if the condominium satisfies FHA regulations (without being on the approval list) it is possible to obtain a DELRAP or HRAP approval??
What is DELRAP and HRAP?!!
I would appreciate some input as there seems to be a lot of conflicting information out there (and scams?)
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