can you be less than 62 years old in order to do reverse mortgage?

No.

No. Absolutely not, and not if you're going to be 62 during that calendar year, or if you're disabled or any other reason. Everyday someone insists that he read on (insert website) that you can be younger than 62 if (insert new excuse). NOT SO. All owners must be 62 or older AND live in the house.

If one of the owners is under the age of 62, it is POSSIBLE to remove that person's name from the warranty deed, but we don't encourage it. Suppose the person on the mortgage gets hit by a truck one day. The other person has to pay off the mortgage, sell the house or refinance into his or her own name. If that's ok, you can do it, but will the person be able to do that is the question. If you put your daughter's name on the warranty deed for when you die, you can take her off and make sure she inherits the house in a different way. Talk to a lawyer about how to do that right in your state. But if it's your spouse, we strongly advise against removing him or her from the warranty deed.

You must be 62 AND occupy the house you want the reverse mortgage on. Of course you must also have equity in the house.

Bankrate.com has a worksheet for Reverse Mortgages, and I have an article about this subject in source below.

Linda

cajunC

No, but if you have equity in your home and an ability to make loan payments, you could take out a home equity line of credit, which is close to the same thing. The big difference between the two is that you will have to make payments on the HELOC line, where in a reverse mortgage payments are optional.

No. You must be at least 62.

No.

Period

No you cannot do that