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If your income comes from other than a salary (i.e, commisions, alimony, child support, trust, etc.) you can use the no income no asset (NINA) procedure Ask your local mortgage company or contact Richard Legare at; richard@alliedhomenet.com for the best rates and lowest fees.
Wiki User
∙ 18y ago
Wiki User
∙ 8y agoThe primary requirements to qualify for a reverse mortgage are age, 62 or over, ownership of real estate and enough equity to entice a lender to approve a reverse mortgage. Having a job is not a requirement since many senior citizens on social security take advantage of reverse mortgages to supplement their income.
Refinancing a reverse mortgage can be difficult, tricky and costly. You would need enough untapped equity to qualify for a new reverse mortgage and to pay off the existing reverse mortgage. The fees and costs would be expensive. In addition, lenders are not approving reverse mortgages at the former rates making them harder to obtain.
Anonymous
Can you refinance a reverse mortgage
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How can I refinance my mortgage without a job?
get a job u lazy heffer
Can you refinance your car loan with no job?
Yes. Your job status not determine if you qualify for refinancing. You being able to make the payments does.
Can you refinance with no job but a lot of equity?
You typicaly can't refinance without any source of income. Lenders will bot borrow to those who dont have the capacity to repay the debt.
Why do people Refinance a house?
People refinance a house because they need money quickly. They might need money for a sudden illness, unexpected home repair or job loss. They also might refinance if the interest rates are low enough.
In what situation might you need to refinance with a home loan?
You may need to refinance your home loan if you need to get money against your home. For example you are in the situation you lose your job and have no money, some people refinance , and borrow against their home in order to get money to live, however it does create a second loan.
Can you refinance your car?
Yes you can refinance a car.
Is the california refinance rate higher than illinois' refinance rate?
The California refinance rate is higher than the Illinois' refinance rate. California's refinance rate is 4.375. These facts are according an online source.
How soon could you refinance after you purchase a car?
As long as your current loan shows on your credit and can be accessed by the refinance company, you can refinance anytime. There is no set time to refinance.
Does credit acceptance refinance auto loans?
Does credit acceptance do refinance
How can a loan refinance calculator help me refinance my loans?
The Refinance Calculator helps you determine whether a refinance makes sense for you. It will also explain why and give you the necessary motivate to help you make the right conclusion.
What if you have no job no credit and no home to refinance but you get government aid each month is it possible to get a personal loan?
If you have no job, no credit and no home, why would you want to burden yourself with debt that cannot possibly repay? Think about your situation!
Where could one find information relating to fha refinance?
FHA refinance allows for the purchase or refinance of a home. You can find information on FHA refinance though local real estate agents or your local library.
