Does HUD let someone with a durable power of attorney apply for a reverse mortgage?

Answer by  guru58 (13)

HUD will allow a power of attorney to apply for a reverse mortgage for someone else. Just as long as the power of attorney is legal and notarized. HUD is very particular about power of attorneys and all paper work needs to be in order for approval.

Answer by  Dean (4035)

It's possible to arrange a reverse mortgage using a general, durable power of attorney; however, the POA will be closely scrutinized in order to alleviate the possibility of fraud. While the homeowner who is incapacitated will not be required to attend the HECM Counseling, the holder of the POA must attend. The lender may question the POA at any time.