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My aunt passed several weeks ago. She had a reverse mortgage and the mortgage company is demanding full payment of the borrowed amount. Her husband is a co-borrower on the loan. However, his name is not on the deed of trust. I have not been able to speak with the family as to whether he signed a quit claim deed. They have been seperated (not legally) for a number of years so this is not his "permanent" place of residence.

Does he have any legal rights to the home as the spouse?

Guest

I neglected to provide state of residence - Texas. Thank you.

raymond · Posted: Fri Sep 30, 2011 1:52 pm Post subject:

If he's on the note, he should be on Title too. As long as the home is his primary residence, the Reverse Mortgage is in effect until the property is no longer his primary residence, and the Lender can't call the loan due and payable.

Do you have any of the original loan documents they signed that you can provide me for review? The HUD-1 would be the best document.

jameshogg · Posted: Fri Sep 30, 2011 7:50 pm Post subject:

Hi Guest,

If the husband's name is not mentioned on the mortgage deed, then he won't have any rights on that property. Moreover, either the reverse mortgage will have to paid in full or refinanced with a normal conventional loan or else, the lender will foreclose the property.

Thanks

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