...no well....no foundation...no reverse mortgage!

fatlazyless · 04-29-2013, 08:01 AM

Turning 62 later on this year, I have been thinking about trying out the reverse mortgage route, so I phone up a loan specialist from the Meredith Village Savings and had a brief conversation with her. Immediately, not having either a foundation under the cottage or a well for water, both raised red flags making a rev-mort a no-go.....and she mentioned that she knew of applicants who had a well drilled just for this reason.

So.....what to do.....the property tax is obviously never getting smaller....and looms large forever looking forward.....and a rev-mort would probably be just the ticket for me! What-to-do?

04-29-2013, 08:01 AM	#1
fatlazyless Senior Member Join Date: Apr 2004 Posts: 8,525 Blog Entries: 1 Thanks: 295 Thanked 957 Times in 698 Posts	...no well....no foundation...no reverse mortgage! Turning 62 later on this year, I have been thinking about trying out the reverse mortgage route, so I phone up a loan specialist from the Meredith Village Savings and had a brief conversation with her. Immediately, not having either a foundation under the cottage or a well for water, both raised red flags making a rev-mort a no-go.....and she mentioned that she knew of applicants who had a well drilled just for this reason. So.....what to do.....the property tax is obviously never getting smaller....and looms large forever looking forward.....and a rev-mort would probably be just the ticket for me! What-to-do? __________________ ... down and out, liv'n that Walmart side of the lake!