Is your reverse mortgage lender spying on you? What happens when you move with a reverse mortgage? Or can your children move into property on reverse mortgage when your parent dies? How does the reverse mortgage lender know if you are still living in the property? The annual notice of occupancy affidavit gets mailed once […]
Can you get a reverse mortgage if your home isn’t paid off? Reverse mortgage facts
Can you get a reverse mortgage if your home isn’t paid off? YES! There are many reverse mortgage facts that people either assume they know or don’t know and this is one of them. Before a HECM reverse mortgage or non-HECM mortgage borrower can use of any reverse mortgage funds, the existing mortgages on the […]
Can My Children Assume My Reverse Mortgage? Estate Planning and Reverse Mortgages
A question I get from time to time is, can my children assume my reverse mortgage? I’ve mentioned before that estate planning and reverse mortgages can often clash when it comes to rules. Some conventional real estate loans and government real estate loans may have language in the note that may allow for loan assumptions, […]
Can I add my kids to title on a reverse mortgage? Estate planning and reverse mortgages.
You would think that there shouldn’t be an issue when you add your children to title on a reverse mortgage right? Not so fast. On conventional loans adding people to title is done regularly without the lender knowing and is acceptable. However, when it comes to estate planning and reverse mortgages, the laws can conflict. […]