Former Maryland Gov. Martin OâMalley has the support of just 2 percent of Democrats, while former Virginia Sen. Jim Webb â who exited the race this week â was at 1 percent, along with former Rhode Island Gov. Lincoln Chafee.
This is false since reverse mortgages are non-recourse loans. The only time a lender recovers his investment is when the home is sold or refinanced. You do not need a clean credit report to apply for a reverse mortgage. You can even have a small outstanding balance on your mortgage and still qualify.Even with different quotes, an HECM reverse mortgage is still the same: it is a multiple purpose loan that you can use as you wish.An HECM lender will not even look at your credit report.his is false since reverse mortgages are non-recourse loans. The only time a lender recovers his investment is when the home is sold or refinanced. You do not need a clean credit report to apply for a reverse mortgage. You can even have a small outstanding balance on your mortgage and still qualify.
You may qualify for a loan based on extenuating circumstances if the applicant: 1  has been or is delinquent for 180 days or less on mortgage loan payments or medical bill payments for the applicant or the applicantâs family. 2  does not otherwise have an adverse credit history.