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Posted: Fri Oct 30, 2009 8:01 pm Post subject: Reverse mortgage question

Years ago, our parents put their 5 children on the title to their home. The home is now paid off (no mortgage whatsoever). Our parents (ages 71 & 76) want to get a reverse mortgage. Can they get this with all of their kids names on the title?

We live in Nebraska

raymond · Posted: Sat Oct 31, 2009 10:21 am Post subject:

No - only primary residents 62 and older can be on Title. You should compliment the Reverse Mortage with a Living Trust, to ensure Title is transferred to the 5 children when the last parent no longer occupies the home as their primary residence.

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Reverse mortgage question