2007-01-17 05:53:58 · 3 answers · asked by bill b 1 in Business & Finance ➔ Renting & Real Estate
The short answer is YES.
From my limited understanding it is not about your income. It IS about your age and the equity you have in your principal residence.
You will have to sign up and go through counseling. See:
www.reversemortgage.org
Best of luck.
Oh - if your concern was about the impact on YOUR ability to conitnue see the above that is accurate
Joe...
2007-01-17 06:02:43 · answer #1 · answered by Joe K 3 · 0⤊ 0⤋
A reverse mortgage is NOT capital gains. SSI has no bearing on your eligibility, the only exclusion is your age.
2007-01-17 14:05:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋
A reverse mortgage is capital gains, not earned income. It should have no effect on your SSI.
2007-01-17 13:57:51 · answer #3 · answered by crossbones668 4 · 0⤊ 0⤋