1. You and your spouse are 62 years of age or older
2. The house you would mortgage is your primary residence
3. You live in that house for at least 6 months a year
4. Your house is a single family, duplex, three unit, four unit, condominium, or manufactured house
5. You have a lot of equity in your house or own it free and clear
6. You do not plan on moving in the next year or two
7. You have recurring need for extra cash to pay bills or improve your lifestyle
8. You are not receiving income or money from public programs that might be lost by doing a reverse mortgage
9. You and your spouse have discussed and agreed together this is the best course of action
10. You consulted with your children they understand and will sit in on the planning sessions
11. You are not determined to leave your house completely free and clear to your children
12. You have considered alternatives to a reverse mortgage and still feel this is the best way
13. You know what you will be using the money for, it will not just be wasted
14. You have consulted a counselor and had your questions answered
15. No one has told you to buy life insurance or annuity with the cash

That is a very basic checklist to go through to see if you are a candidate for a reverse mortgage

If you need more questions answered feel free to give me a call at 414-531-4035