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Do both spouses have to be 62 to get a reverse mortgage?

by stevensjames2 from Orlando, Florida. Jun 20th 2011 Reply


Chris Gummerson (cgummerson11)
#8 ranked lender in California - 497 contributions

Both husband and wife must be 62 or over. This is only true, of course, if the property is titled in both names, typically called a joint tenancy when between a husband and wife.There are reverse mortgage specialists on this site, and if they have another option, they will inform you. Good luck.

Jun 20th 2011
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Brian McFedries (bmcfed)
#10 ranked lender in California - 422 contributions

for both to be protected, both would need to be 62. If your wife is under 62 you could get the reverse on your own, but if you passed she would have to make a decision on what to do with the house. I would speak to someone and go over guidelines. I have done over 50 reverse mortgages. www.guidetomortgageplanning.com

Jun 20th 2011
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If you are 62 years or older and have equity in your home, a reverse mortgage may be right for you. For additional information on http://www.reversemortgagelendersdirect.com/north-carolina-reverse-mortgage/ to contact a Reverse Mortgage specialist. They would be happy to meet with you at your convenience to explain the program and process and to review your needs.

Apr 25th 2013
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