Comments on: How much more complicated with a reverse mortgage if my wife is on the original note (paid off) and she is 59? http://reversemortgage.info-junction.net/how-much-more-complicated-with-a-reverse-mortgage-if-my-wife-is-on-the-original-note-paid-off-and-she-is-59-2/ What is Reverse Mortgage, How does reverse mortgage work, Advantages & Disadvantages of reverse mortgage. Mon, 30 Jan 2012 01:01:00 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Byron W http://reversemortgage.info-junction.net/how-much-more-complicated-with-a-reverse-mortgage-if-my-wife-is-on-the-original-note-paid-off-and-she-is-59-2/comment-page-1/#comment-16370 Byron W Wed, 07 Apr 2010 05:48:29 +0000 http://reversemortgage.info-junction.net/how-much-more-complicated-with-a-reverse-mortgage-if-my-wife-is-on-the-original-note-paid-off-and-she-is-59-2/#comment-16370 The best approach, unfortunately, is to take her off the title and obtain a reverse mortgage solely under your name. The best approach, unfortunately, is to take her off the title and obtain a reverse mortgage solely under your name.

]]> By: Crockett http://reversemortgage.info-junction.net/how-much-more-complicated-with-a-reverse-mortgage-if-my-wife-is-on-the-original-note-paid-off-and-she-is-59-2/comment-page-1/#comment-16371 Crockett Wed, 07 Apr 2010 05:48:29 +0000 http://reversemortgage.info-junction.net/how-much-more-complicated-with-a-reverse-mortgage-if-my-wife-is-on-the-original-note-paid-off-and-she-is-59-2/#comment-16371 Your idea of a reverse mortgage is partially erroneous in that both of you can be placed on the mortgage and the loan would not be called due until both of you die. That is until probate occurs which is not until both of you die due to the unlimited spousal deduction. I could offer more help if you would like to e-mail me, however I feel that that is the answer you were looking for. Your idea of a reverse mortgage is partially erroneous in that both of you can be placed on the mortgage and the loan would not be called due until both of you die. That is until probate occurs which is not until both of you die due to the unlimited spousal deduction. I could offer more help if you would like to e-mail me, however I feel that that is the answer you were looking for.

]]> By: steve s http://reversemortgage.info-junction.net/how-much-more-complicated-with-a-reverse-mortgage-if-my-wife-is-on-the-original-note-paid-off-and-she-is-59-2/comment-page-1/#comment-16372 steve s Wed, 07 Apr 2010 05:48:29 +0000 http://reversemortgage.info-junction.net/how-much-more-complicated-with-a-reverse-mortgage-if-my-wife-is-on-the-original-note-paid-off-and-she-is-59-2/#comment-16372 I am sorry about your wife having lung disease. I had a close family member 3 years ago pass away from lung cancer. If she is under age 62 and on title to the home she must be removed from title. The person who is over 62 will be the one eligible for the mortgage. Once the last person either dies or moves out of the home the mortgage must be paid off. This can be either by selling the property or your heirs can refinance the property and pay off the reverse mortgage. Just remember the older you are the more money you will be eligible to recieve from the reverse mortgage. For more information about reverse mortgages you can go to either AARP's web site or www.reversemortgage.org They have a calculator that you can use to see what you possibly could qualify for. I am sorry about your wife having lung disease. I had a close family member 3 years ago pass away from lung cancer. If she is under age 62 and on title to the home she must be removed from title. The person who is over 62 will be the one eligible for the mortgage. Once the last person either dies or moves out of the home the mortgage must be paid off. This can be either by selling the property or your heirs can refinance the property and pay off the reverse mortgage. Just remember the older you are the more money you will be eligible to recieve from the reverse mortgage. For more information about reverse mortgages you can go to either AARP’s web site or

http://www.reversemortgage.org

They have a calculator that you can use to see what you possibly could qualify for.

]]>