Be Careful About Putting Only One Spouse’s Name on a Reverse Mortgage

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Be Careful About Putting Only One Spouse’s Name on a Reverse Mortgage A recent case involving basketball star Caldwell Jones demonstrates the danger in having only one spouse’s name on a reverse mortgage.

5 Things You Should Know About Reverse Mortgages. If a couple is thinking about a reverse mortgage, but only one spouse is 62 or older, there is a temptation to put the home in the older spouse.

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 · Be Careful About Putting Only One Spouse’s Name on a Reverse Mortgage. A recent case involving basketball star Caldwell Jones demonstrates the danger in having only one spouse’s name on a reverse [.] READ MORE. Asheville, NC. Orange Park Professional Park 32 Orange Street Asheville, NC 28801 phone: (828) 255-1966 get directions.

Dad Wants A Reverse Mortgage When purchasing a reverse mortgage, it is always safer to put both spouse’s names on the mortgage. If one spouse is underage when the mortgage is originally taken out, that spouse can be added to the mortgage when he or she reaches age 65. If you have a reverse mortgage with only one spouse on it, contact your attorney to find out the best way to protect the non-borrowing spouse.

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Be Careful About Putting Only One Spouse’s Name on a Reverse Mortgage October 10, 2018 October 31, 2018 A recent case involving basketball star Caldwell Jones demonstrates the danger in having only one spouse’s name on a reverse mortgage.

Reverse Mortgage With One Spouse Under 62. If the home is owned solely by the older spouse he or she may technically be able to take out a reverse mortgage in his or her name only. And, thanks to changes from the Department of Housing and Urban Development (HUD), non-borrowing spouses are now.

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