Posted on: 16th Nov, 2007 02:59 am
Our home is paid off in full. Both my husband and myself is on the title. He is 67 and I am 58. We were thinking about do a reverse mortgage but I need to be at least 62. Can I be removed from the title so that we can apply for the reverse mortgage?
Hi Yolanda,
Welcome to this forum.
Is your name on the title? If so then you can remove your name from the title by signing a quitclaim deed and transfer your share of property to your husband's name. Thus your husband can qualify for the reverse mortgage as he is 67 now.
Thanks,
Larry
Welcome to this forum.
Is your name on the title? If so then you can remove your name from the title by signing a quitclaim deed and transfer your share of property to your husband's name. Thus your husband can qualify for the reverse mortgage as he is 67 now.
Thanks,
Larry
Hello Yolanda,
If you sign a quit claim to remove your name from the deed and transfer the ownership completely to your husband, that would help him to qualify for the reverse mortgage.
You have an added advantage as your mortgage has been paid off in full. I think it won't be a problem for him to qualify.
If you sign a quit claim to remove your name from the deed and transfer the ownership completely to your husband, that would help him to qualify for the reverse mortgage.
You have an added advantage as your mortgage has been paid off in full. I think it won't be a problem for him to qualify.