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What are the qualifications? What if I have poor credit or income?

April 26, 2017income poor credit qualifications

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What are the qualifications? What if I have poor credit or income?

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It’s easy to qualify for an FHA Reverse Mortgage: simply be a homeowner age 62 or more. Your income does NOT matter. Neither your credit history nor your credit score matters. It’s all about your age, your property’s value and the equity you have in it. Qualifying properties include single family homes, duplexes, condominiums or townhomes, some multi-unit properties, and manufactured homes (built before 1976 & converted to Real Property). Legacy Home Financing will be able to tell you if your home qualifies.