Headline: If you’re retired and don’t have income other than investments and Social Security, you are NOT going to get a mortgage. And a line of credit might be difficult too. And you could easily get caught in the middle — with TWO homes — if housing market gets worse! This is not a good plan!
Check with Leslie Struthers at Guaranteed Rate: Leslie@Rate.com as to the possibilities. But she will likely tell you to sell your home first.