Be Careful About Putting Only One Spouse’s Name on a Reverse Mortgage

A spouse may not be a borrower on the loan for several reasons. For example, a spouse who is younger than 62 will not qualify as a borrower, but may still be included on the loan as a non-borrowing spouse. This may be a wise choice if both spouses want to get a reverse mortgage as soon as possible – even if the younger spouse cannot be a borrower.

I urge all borrowers with a current reverse mortgage that includes only one spouse and does not have an eligible non-borrowing spouse provision to not wait until you find yourself in a position that means you have to try to put a last minute plan together at a time of extreme grief, where you may find yourself possibly with a lower income and.

But when only one member of a senior couple is the named borrower on a reverse mortgage loan, it can create a troublesome situation whereby the borrowing spouse dies and the remaining partner is.

Reverse Mortgage Myths | The Truth about Reverse Mortgages | Part 1 Can I file bankruptcy if the house is in my name? dear elizabeth. Unless your father’s spouse is still alive, was a co-borrower on the reverse mortgage loan and is living in the home, you have six.

The Real Estate Tale of Amar’e Stoudemire: Part I Last night, Wednesday, April 6th, Miami Heat Star and art enthusiast Amar’e Stoudemire and artist Daniel Arsham hosted a Miami "In The Paint Series" event in collaboration with Whitewall Magazine. The fte, held at the Ritz Carlton Residences Miami Beach, wasto benefit The Amar’e Stoudemire Foundation.Kentucky Derby Field: Omaha Beach leads talented field for Saturday’s 145th Run for the Roses The field for the 145th Kentucky Derby is set and as always all eyes of the sports world will be on Louisville, Kentucky for the first Saturday afternoon in May for the annual Run for the Roses. As I’ve written about plenty already, the Kentucky Derby is a must-attend event .

What they don’t tell you is that reverse mortgages can be dangerous and can put your biggest. Reverse mortgage contracts require immediate repayment on the death of the borrower. So if only one.

Fewer underwater mortgages as higher home prices help owners regain equity – South Florida Sun Sentinel In Florida, you will see a bewildering mix of optimism, opportunism and denial in the real estate market: luxury condominiums going up in flood-prone. Fewer underwater mortgages as higher home prices help owners regain equity – South Florida Sun sentinel indirection fuel Will This Retired Lawyer Open the Floodgates of Divestment From Fossil.

Ditch your spouse when buying that house.. only your name is on the mortgage loan doesn’t mean that both you and your spouse can’t both be listed as the owners of your home. You can still put.

So the reverse mortgage was in her husband's name only, even. When one spouse is under age 62 a much better option for tapping the.

 · Be Careful About Putting Only One Spouse’s Name on a Reverse mortgage. 11/14/2018 0 Comments A recent case involving basketball star Caldwell Jones demonstrates the danger in having only one spouse’s name on a reverse mortgage. A federal appeals court has ruled that an insurance company may foreclose on a reverse mortgage after the death of the.