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I own 98 per cent in my home and my 2 children have 1 per ce

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reverse mortgage Guest	Posted: Mon Jul 25, 2011 5:48 am    Post subject: I own 98 per cent in my home and my 2 children have 1 per ce Like 0 Dislike 0 If I got a reverse mortgage and paid off the exsisting mortgage, can they quitclaim their interest back to me, As a reverse rule is that all owners have to be at least 62 _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Mon Jul 25, 2011 10:43 am    Post subject: Like 0 Dislike 0 Wait for Raymond's answer and you'll have precisely what you need to know. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Jul 25, 2011 9:11 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! It is true that the owners of the property, in case of a reverse mortgage, should be 62 years of age. In such a situation, your children will have to sign a quitclaim deed and transfer the property to you. Feel free to ask if you've further queries. Sussane

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