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Yes, you should absolutely be eligible for a Reverse Mortgage.

To connect with a prescreened Reverse Mortgage lender, continue here:
https://www.newretirement.com/Services/Reverse_Mortgage_Advice.aspx

You may stay on title alone on the reverse mortgage.

I would make sure that you understand the decision throroughly. If you were to have to move into into assisted care, or if you should pass before he did, he would be forced to do something to pay off the reverse mortgage. He would be required to either refinance the home (maybe even with another reverse mortgage), sell the home or pay off the loan some other way.

Some couples dont see this as an issue, as the other wouldnt want to live in the home when their spouse passes, or perhaps has the means through a life insurance policy in which they might use to pay off the loan.

Either way, please be aware that once the borrowing spouse no longer maintains the home as their principle residence, the other will be required to leave as well.

Let me know if you have further questions.

Tamera Field
Reverse Mortgage Loan Consultant

Golden Gateway Financial, a preferred lender with New Retirement.
www.goldengateway.com
877-632-7890

Yes, but it's risky if your spouse wants to live in your home forever. However, it's no problem if they don't want to live in the house anymore after you Pass. If you decide to do something like that, and your husband wants to live there forever, it's wise to have a life insurance policy that protects your spouse. That way the spouse will have enough cash to pay off the current Reverse Mortgage, and get another one, if you Pass. Your goal should be to refinance it with another Reverse Mortgage when he turns 62, so both are on Title. You won't need the life insurance policy after that happens. And the best way to do the Reverse Mortgage is with a Credit Line, or Monthly check. Those distribution methods result in the least amount of equity being used, making it easier to refinance with another Reverse when he turns 62. Raymond