Reverse Mortgage Loan Blog

RevereMortgageLoanBlog.com reader Josh writes:

I am in desparate need of information for my mother who is struggling to keep her home. She applied for an HECM on a legal 1 family, although it has two (legal) structures. The main house is owner occupied and the other had been used for seasonal beach rental. The appraisal amount came in at 650K, but underwriting rejected the loan as they said the property type was the reason for rejection. I need specific underwriting criteria as my mother needs this and will make any necessary changes to fall within guidelines.

Please get in touch or leave any information you may have concerning Josh’s predicament in the comments.

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