A certain sentence in this article on Clark Howard’s website reads: “Your home, townhouse or condo must have been built on or after June 15, 1976.” No offense, but a section of this webpage reads:
Question From Dirk on 3/09/2021
Can a single family home built before 1976 qualify for a reverse mortgage?
Expert Answer
Hello Dirk,
The 1976 restriction is for manufactured homes only. Single family homes that are “stick built” homes do not have any preset date that they must be built after to be eligible. They must meet HUD requirements and must have adequate remaining economic life but being built before 1976 is not a problem.
I know Clark Howard doesn’t recommend reverse mortgages in most cases, but this information is important to know.