Am I eligible for a reverse mortgage if my spouse is under 62?
We are interested in a reverse mortgage. My husband is younger than me by several years though I am over 62. What happens if my spouse is not 62 years old? Will we still be eligible?
American Advisors Group | Phil Scott
Reverse mortgage qualification uses the age of the youngest person on title for the property. If both you and your spouse hold title and one of you are under 62 years old, then you are not eligible to get a reverse mortgage. However, if your spouse is not on title for the property and you are over 62 years old, then you are welcome to get a reverse mortgage.
Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.
Replied: 8/11/2010
Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.
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