Posted on: 30th Oct, 2009 08:01 pm
Years ago, our parents put their 5 children on the title to their home. The home is now paid off (no mortgage whatsoever). Our parents (ages 71 & 76) want to get a reverse mortgage. Can they get this with all of their kids names on the title?
We live in Nebraska
We live in Nebraska
No - only primary residents 62 and older can be on Title. You should compliment the Reverse Mortage with a Living Trust, to ensure Title is transferred to the 5 children when the last parent no longer occupies the home as their primary residence.