• Question
  • equity loans for seniors - can I qualify?

    Asked on 7/3/2008

    I am a senior 72 years old and my credit rating is not good, can i still get a equity loan?

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  • Categories: Mortgage Refinancing, Reverse Mortgages, Housing

Answers

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  • You probably can not get a home equity loan. Many seniors find home equity loans and even refinancing difficult due to their fixed income -- and a poor credit rating compounds the problem.

    However, you may be eligible for a Reverse Mortgage. Learn more here:
    http://www.newretirement.com/Services/Reverse_Mortgage.aspx

  • Login to rate this answer:   Answered on 7/7/2008
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.