You can use this online calculator (use the link is at the HUD website) to get an idea of the maximum loan size for your situation, and some explanation of the possibilities. Then reduce the loan size by the amount owed on the property to determine how much lump sum cash you could get:http://www.hud.gov/offices/hsg/sfh/hecm/hecmabou.cfmHUD also has a useful discussion:http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfmAnother calculator is found here, which incorporates the "amount owed" into the calculation:http://rmc.ibisreverse.com/default_nrmla.aspxA qualified lender can explain the different options available.Jun 27th 2010
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