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.
Structure Maryland Statutes
Housing and Community Development
Division I - Housing and Community Programs
Title 4 - Division of Development Finance
Subtitle 8 - Maryland Home Financing Program
Section 4-802 - Scope of Subtitle
Section 4-804 - Purposes of Program
Section 4-805 - Powers of Department
Section 4-806 - Duties of Department
Section 4-807 - Adjusted Annual Income
Section 4-808 - Operation of Program
Section 4-809 - Application for Loan
Section 4-810 - Eligibility for Loan -- in General
Section 4-811 - Eligibility for Loan -- Emergency Assistance Loans
Section 4-812 - Eligibility for Loan -- Reverse Equity Loans
Section 4-813 - Eligibility for Loan -- Short-Term Construction Loans
Section 4-814 - Preferred Interest Rate Mortgage