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. READ MORE annual Cost of Care survey. For First Time, Median Cost of private nursing home room hits Six Figures in Annual Survey
Selling a House? Top 5 Resale Killers Mortgage Masters Group "How to Payoff a Reverse Mortgage at 95% of Appraised Value " By Michael G. Branson – Add me to your circles About the Author Michael G. Branson Michael G. Branson (CEO All Reverse Mortgage Inc. and moderator of ARLO) has 40 years of experience in the mortgage banking industry and has devoted the past 14 years to reverse mortgages.
· 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. elder law attorney serving Ohio. Independence Area. Cleveland Office Crown Centre 5005 Rockside Road
Editor’s Note: On Sept. 30, 2013, a federal trial court in Washington, D.C., ruled that HUD violated federal law when it did not protect surviving spouses of holders of reverse mortgages. Robert Bennett is facing foreclosure on a home he and his wife built more than 35 years ago and owned together in Annapolis, Md.
With a reverse. the name means you have to give your house back. You don’t. Maybe the Australian term of an opposite mortgage explains it better. It’s your house in which you can enjoy the.
Reverse mortgage rules might be able to protect you if your spouse passes. spouse passes away, but you aren't named as a co-borrower on a reverse mortgage.. and the property is not the principal residence of at least one surviving borrower. meet to remain in the mortgaged property, be aware that regulations, laws,
Excellent Experience – Royal United Mortgage LLC Of course, the horror that McKeon is referring to is the death of President Kennedy, which rocked their family and the entirety of the United States. McKeon often looked to the former First Lady for.
Robert Bennett's name omitted from wife's reverse mortgage forms, HUD. Though the couple had lived in the home since 1975, the reverse mortgage was issued only in her name.. where one spouse is not listed on the reverse mortgage, are in jeopardy of. What it means to you: Consider a reverse mortgage carefully.
Ron Feinman. A spouse might not be named on the mortgage for a number of reasons: one spouse may have taken out the reverse mortgage before the marriage, or one spouse may be under age 62 and ineligible, or, more likely, lenders often encourage the younger spouse not to be named as a borrower because then the loan amount can be bigger.