Posted on: 30th Sep, 2013 11:28 pm
Will I be able to qualify for a reverse mortgage on my own? My wife is 61 years old. Will it affect my chances of qualifying for loan approval? Or do I need to wait?
Hi Guest!
Welcome to the forums!
Yes, you will be able to qualify for a reverse mortgage on your own. However, as your wife is just 61 years old, she needs to removed from the property deed, if she is on it. Later on, when she attains the required age, both of you can refinance the reverse mortgage in both of your names.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
Yes, you will be able to qualify for a reverse mortgage on your own. However, as your wife is just 61 years old, she needs to removed from the property deed, if she is on it. Later on, when she attains the required age, both of you can refinance the reverse mortgage in both of your names.
Feel free to ask if you've further queries.
Sussane
You can obviously qualify for a reverse mortgage but you need to remove the name of your wife from the property deed. Once she attends the required age, both can apply for reverse mortgage .