One of our frequently asked questions about the reverse mortgage is: “Why are you looking at my credit history?”
While credit score is still not a determining factor in whether someone is eligible to get a reverse mortgage, credit history may tell a lender whether the client is in the best position to be successful with their reverse mortgage. Checking credit history is part of the required financial assessment.
Watch today’s Tune in Tuesday to find out when financial assessment requirements started and why it is important to both the client and the lender.
We hope you enjoyed today’s edition. Check back in two weeks for a new episode and new information on the reverse mortgage.