Can a person (age 70) w/ bad credit and multiple refinances on their home be eligible for a reverse mortgage?

My 70-year-old aunt just refinanced AGAIN for a 30-year mortgage. Who expects to be paying at mortgage at 100? Anyway, after doing some research I have learned that she has refinanced about three times and has bad credit (576 score). I want to help her figure her way out of this. She said her son and her... show more My 70-year-old aunt just refinanced AGAIN for a 30-year mortgage. Who expects to be paying at mortgage at 100?

Anyway, after doing some research I have learned that she has refinanced about three times and has bad credit (576 score).

I want to help her figure her way out of this. She said her son and her adopted son (who is 11) won't want her house when she's gone. So I found out about the reverse mortgage.

With these issues in mind, would she be eligible? Would that get her out of paying her mortgage 100% or only the overall loan amount ($282k), minus the amount the home is worth ($95k).

I know. This all sounds bad, but her 40-year-old son could careless about her affairs, and as her niece I want to see how I can help her out of this mess.

Unfortunately, I learned about it once all the damage was done. Also, if she is a candidate for a Reverse Mortgage, are there any cons to this concept when a house is in shambles and no one wants it once the owner is gone anyway?
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