Both modular homes and leased land are okay to do a reverse mortgage on. However, this specific situation may be a little tricky. In order to properly appraise the property, they would need to have comparable sales, or what they call "like" properties. This means that they would have to find sales of modular homes on leased land that occurred within the last 6 months. However, keep in mind there is definitely room for variance here. To give you a specific and accurate answer, it would be best for you to speak to one of us so we can find out more about your situation and property. If you're considering a reverse mortgage, please call our offices, and one of our Professionals can determine whether or not you qualify.

Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.