Notifications
Clear all
Reverse Mortgages for Seniors
311
Posts
300
Users
0
Reactions
2,813
Views
I swear, the paperwork is like a scavenger hunt where the prize is…more paperwork. Lenders definitely get picky about where the money’s coming from—401(k) drawdowns sometimes need a paper trail, while pensions are usually easier. I’ve seen them ask for letters from annuity companies, or even proof that you’re actually receiving Social Security, not just a deposit slip. Smaller credit unions can be more flexible, but it really depends on the loan officer’s mood that day. And yeah, even with a paid-off house, they still want to see income—assets help, but they’re not always enough. Fun times.
Page 63 / 63
Prev