Section 4-812 - Eligibility for loan - Reverse equity loans.
§ 4-812. Eligibility for loan - Reverse equity loans.
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.
[An. Code 1957, art. 83B, § 2-607; 2005, ch. 26, § 2.]