Posted on: 22nd Jan, 2009 08:53 am
I am retiring and want to get a reverse mortgage on my home. I am 62 in a few days but my wife is only 60. Is there a way to get a reverse mortgage in my name only in Tennessee since the law says that all owners on the mortgage have to be 62?
Hi volnut!
Welcome to forums!
Yes, you can get a reverse mortgage in your name provided your wife's name is not on the property deed. If your wife's name is on the property deed, I think, the lender will ask her to quitclaim the property to you. Once she does that, you can get a reverse mortgage. To know more about reverse mortgage, check out the following link:
http://www.mortgagefit.com/reverse.html
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Yes, you can get a reverse mortgage in your name provided your wife's name is not on the property deed. If your wife's name is on the property deed, I think, the lender will ask her to quitclaim the property to you. Once she does that, you can get a reverse mortgage. To know more about reverse mortgage, check out the following link:
http://www.mortgagefit.com/reverse.html
Feel free to ask if you have further queries.
Sussane