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is private mortgage money available

I have a very small mortgage, about $33,000, on a lake front home in the city of Seattle assessed at just over 1/2 million dollars,  I need to do some storm damage repair but my present income is not sufficient to get a conventional loan. If I get a small private loan for renovating the house tol quality for a substantial reverse mortgage. I am trying to locate a private lender that will earn a high interest rate plus a reasonable closing cost. I will pay for the appraisal.
  • October 03 2013 - Seattle
  • 0Yes

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Answers (1)

What is it that you are looking to do? A Conventional loan is different than a Reverse mortgage. Are you over the age of 62? If you are not over the age of 62, you will not be able to obtain a Reverse Mortgage.
  • October 03 2013
  • 0Yes

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