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QUESTION:
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marriage | | My fiance has Reverse Mortgage, I am also a senior,when we get married, is he able to add me to the reverse mortgage package? |  | asked by Gloria, 11/12/2007 |
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Categories:
Reverse Mortgages
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| ANSWERS: | | Answered by: Tamera, 03/07/08
Overall Rating:  Be the first to rate it. | Only if he were to refinance it. I would suggest that you see if there is a benefit to doing it (ie: more money or a lower interest rate) before doing it just to get on title.
If he wishes to leave you the home to you if he should pre-decease you, that he do a living trust, and make you a beneficiary and/or successor trustee. If he passes, you can then refinance the reverse mortgage with another reverse mortgage, and continue on.
I hope that helps. Let me know if you have further questions. I am a Reverse Mortgage Specialist with Financial Freedom, and would be happy to answer any other questions you might have.
tfield@ financialfreedom.com
877-632-7890
Tammy Field :)
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