Q: Can I get a reverse mortgage from a bank in Georgia on real property in State of California??
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A: Yes, it's generally possible to get a reverse mortgage from a bank in Georgia for real property located in California. Reverse mortgages are federally insured loans, and they are not limited to being offered by banks in the state where the property is located. However, the specific terms, requirements, and eligibility criteria for reverse mortgages can vary between lenders and states. It's important to research and consult with a financial advisor or mortgage specialist to understand the details of obtaining a reverse mortgage for a property in California while residing in Georgia.
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A:
While reverse mortgages are generally available across states, they involve specific regulations and considerations that vary. It's essential to work with a qualified attorney to navigate the legal and financial aspects of obtaining a reverse mortgage on California real property from a bank in Georgia, ensuring compliance with both states' laws.
Sincerely,
James L. Arrasmith
Founding Attorney and Chief Lawyer
The Law Offices of James L. Arrasmith
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