If your mother has dementia, this may render her ineligible. But if someone holds power of attorney, there may be a chance we can help. In general, a person holding power of attorney can be the main contact for the reverse mortgage process - as long as the title owner of the property meets all of our criteria on age, property value, existing debt and property ownership. However, the persons listed as the title holder of the property must be the one to undertake counseling, as well as sign all application and closing documents along with the POA who will sign on the deficient person's behalf. HUD (US Department of Housing and Urban Development) requires the homeowner to act on their own behalf, unless a doctor's note can be supplied which cites a specific condition which renders the homeowner unable to make their own decisions. I really do hope we can help you and your family. If you are looking for more information about the HECM reverse mortgage loan program, please feel free to request a free educational DVD, presented by Former Senator Fred Thompson. It will give you valuable information, so you can make an educated decision about this program.

Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.