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my father owns a home in st george utah value 200k he owes 30k how much could he get in cash with a reverse mortgage - he is 92

by jimrnld850 from Colton, California. Dec 17th 2014 Reply


Dennis Hensling (dhensling@uamco.com)
#1018 ranked lender in California - 3 contributions

He would be able to get around $100,000.

Dec 17th 2014
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Antonio Magtoto (amagtotojr)
#860 ranked lender in California - 36 contributions

Absolutely he could assuming the property is a Single Family Home, primary residence or if is a townhome or condo that it is FHA Approved. Your dad could cash out about $105K if he wanted all the money in one draw or he could pull an equity line with a minimum draw initially and he can draw along the way if he wishes. If you want specific and accurate numbers contact me.

Dec 17th 2014
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

About $113,000.. here's HUD's Reverse Mortgage Calculator where you can see for yourself.. http://www.reversemortgage.org/about/reversemortgagecalculator.aspx I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Dec 17th 2014
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Raymond Denton (Raymond)
#10 ranked lender in Ohio - 224 contributions

What is your Father's zip code? I need that to quote the correct fees. You can call me at 949-400-1729 if you have questions. Thank you. Raymond - www.RaymondDenton.com

Dec 17th 2014
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Chris Neuswanger (mtnmortgageguy)
#94 ranked lender in Colorado - 84 contributions

Reverse mortgages can be a great financial tool, unfortunately I can only lend in Colorado but agree with the answers below and hope it works out for him.

Dec 17th 2014
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Chris Gummerson (cgummerson11)
#363 ranked lender in California - 648 contributions

Raymond is on top of his game and I would recommend him. Good luck!

Dec 17th 2014
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Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,252 contributions

What you need to look at , which no one is checking out , is what is your dads financial tax bracket ?? he might be pushed into the next bracket that is something that you all need to look at ..

Dec 18th 2014
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Timothy Howard (timehoward)
#70 ranked lender in Utah - 150 contributions

Jim, go to www.loancaddy.com. I have a 20 minute video that will answer all your questions on a reverse mortgage.or call me at 435.764.8709

Dec 21st 2014
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