purchase: Reverse Purchase? I never heard of such a thing!
- 04/10/12 12:29 PM
Last week a Senior buyer I had pre-qualified for a new home purchase was out looking in a new home development. When he explained to the site agent at the 55+ FHA approved community that he was going to finance the new house with an FHA insured (HECM) Reverse for Purchase she replied "I never heard of such a thing." She went on to tell him that they didn't offer that program and that he would need to be qualified by her loan officer for a regular loan. A few minutes later at the buyers insistence, she called me and I (6 comments)