Yes, it may be possible for you to take a reverse mortgage on a trailer, but it must meet some strict criteria. To be approved, the trailer must be taxed the same way as real estate. When first purchased, manufactured homes are "personal property" much like a car. In order to be taxed as "real property" they need to be de-titled with the DMV and then recorded with the county. They also must have been built after June of 1976, have at least 400 sq. feet in gross living area, have tags that are visible for each section, be affixed to a permanent foundation and have functioning utilities. They can only have been moved once (from the dealership to the permanent location). All manufactured homes will also require a foundation inspection as part of the loan process. Aside from these requirements, trailers will be treated just as regular homes in the reverse mortgage process. As there are numerous points to consider here, I recommend you call in to discuss this with the reverse mortgage professionals here at AAG.

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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.