§ 4-812. Eligibility for loan -- Reverse equity loans

Latest version.

   To qualify for a reverse equity loan under § 4-804(5) of this subtitle, an applicant shall:

   (1) be at least 62 years old when the loan closes; and

   (2) need financial assistance with housing-related expenses or personal expenses that enable the owner to continue to occupy the home.

HISTORY: An. Code 1957, art. 83B, § 2-607; 2005, ch. 26, § 2.

                    
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