By Admin on Aug 31, 2008 in Other - Business & Finance
jajannise@verizon.net asked:
The value of the home is approx. $100,000 and paid for—new 30 year roof and new paint on the house-most of the inside has been redone-and 50% ceramic tile-some hard wood and some carpet on the floors
Content
The value of the home is approx. $100,000 and paid for—new 30 year roof and new paint on the house-most of the inside has been redone-and 50% ceramic tile-some hard wood and some carpet on the floors
Content
Is the house in both of your names? It becomes community property in a divorce, doesn’t it? Why don’t you sell it and split the money and move on with your lives instead?
sunshine_today | Sep 1, 2008 | Reply
Yes. A reverse mortgage is based on age, not marital status or the value of the home. As long as the home is in your name or your soon to be ex-spouse will sign a quit claim deed to get it out of his/her name, you’re fine.
Fifth Third Bank does Reverse Mortgages in Texas. You can get contact info on.
Good Luck!
BobcatChick | Sep 4, 2008 | Reply
Yes you can get a reverse mortgage but you will have to get title cleared up before closing. It can be done if both parties agreed fairly simply. I am a loan officer for Griffin Financial Mortgage. Reverse Mortgages are all I specialize in and we have closed more reverses in the Southwest than anyone else. Please contact me if you would like some more information.
Thanks,
Brandon
bburns31 | Sep 4, 2008 | Reply