QUESTION:

mANUFACTURED HOMES

Can reverse mortagebe obtained on a manufactured home in an mobile home park? asked by DCK
asked by DCKinser, 8/2/2008
Categories: Retired, Late Stage Retirement
ANSWERS:
Answered by: Editorial, 08/04/08
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Most likely not. You must own the land as well as the structure to qualify for a Reverse Mortgage.

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Answered by: Editorial, 08/12/08
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While not a traditional Reverse Mortgage, mobile homes are eligible for a Family Reverse Mortgage...

A Family Retirement Mortgage is a flexible alternative to a traditional Reverse Mortgage. Your family or friends act as the lender, not a bank. Whether you need a few hundred dollars a month or a few thousand, a Family Retirement Mortgage enables you to formalize a loan with family or friends -- using the house as collateral.

You create the terms of the loan while protecting important relationships and keeping wealth in the family

If you have a family member or friend who could and would fund your Reverse Mortgage, you can be connected to a bank who will facilitate this loan for you here:
https://www.newretirement.com/Services/Multi_Gen.aspx?vrm=true&

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