Location: Pennsylvania
Submitted 10/28/12 07:35 AM

Q. I am the full-time live in caregiver for my mother with Parkinson's and dementia. We don't have a POA, and need a Reverse Mortgage asap to stay in our house. I don't want to get a guardianship because of the restrictions. My mother understands how an RM works and wants do do it. If her doctor will sign a letter saying that he believes she understands this do you know of any lenders that will accept it and let me handle the paperwork and signing?

 

Answer #1
Submitted 10/28/12 08:14 AM
Susan Mangigian, Chester County Homes Delaware and Chester County Offices!, Susan Mangigian, Chester & Delaware County Homes (RE/MAX Preferred, West Chester, PA, RS152252A): Real Estate Sales Representative in West Chester, PA Susan Mangigian, Chester County Homes Delaware and Chester County Offices!, Susan Mangigian, Chester & Delaware County Homes (RE/MAX Preferred, West Chester, PA, RS152252A)
Real Estate Sales Representative
West Chester, PA

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A.

I don't know for sure if a lender would accept this but if you'd like, I can have someone contact you that I think you can trust so that you can speak to him about it.  I have a feeling it will be much more complicated than this but only a mortgage person can answer this question, and that's only after speaking with their underwriting department.  The lender in my Networking Group does reverse mortgages and I'm sure he would be happy to speak with you.  Feel free to email me your contact information so that I can pass it on to him.  My email is susanmangigian@verizon.net.  
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