does the owner or person of power of atty of the property have to live in the home in order to do a reverse mortgage or have the bank pay them???

Asked by rodriguez.carlos, Covina, CA Wed Sep 26, 2012

for example if a the owner moves out and a sibling comes back to live in the property illegaly and starts to rent it out to sqawtters or homeless people is that ok??

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Emily Knell, Agent, Huntington Beach, CA
Wed Sep 26, 2012
No

On a Reverse Mortgage it must be owner occupied.
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