QUESTION:

ages of occupants/oweners

On a reverse morgage what if only one of the owners is 62 or older and the other is younger? And what happens when the other person turns 62?
asked by george frun, 6/16/2008
Categories: Reducing Retirement Expenses, Recreation, Late Stage Retirement, Relationships, Spouses, Medicare, Reverse Mortgages, Retirement Assets, Supplemental Medical Insurance, Social Security, IRAs, Life Insurance, Prescription Drug Coverage, Leisure and Lifestyle, Military Retirement Pay
ANSWERS:
Answered by: Editorial, 06/17/08
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All people on the mortgage must be 62 years of age to qualify for a Reverse Mortgage.

You are eligible for a Reverse Mortgage as soon as both of you are of age.

For more information on eligibility, please visit:
http://www.newretirement.com/Services/Reverse_Mortgage_Who_Should_Consider.aspx

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