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Does a reverse mortgage carry title as JohnDoe revocable trust, or just John Doe, if you want your property to remain in in a trus

by dgriff_317_785 from Fontana, California. Mar 12th 2013 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,626 contributions

Yes.. You can close a Reverse Mortgage in the trusts name.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Mar 12th 2013
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

A family trust is an allowable title interest for a reverse mortgage. We will need a copy of the trust to review as part of the application process, but we regularly approve revocable trust instruments. I am a full-time reverse mortgage loan officer, and will be happy to answer any other questions. If you are interested in the fixed rate standard reverse mortgage, please contact me, Dave Metsker, at 503-620-2239, as this program will be suspended as of April 1, 2013.

Mar 12th 2013
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Florian Steciuch (RevereseMortgagePro)
#42 ranked lender in Indiana - 22 contributions

Reverse mortgages can close with the property in trust. A complete copy of the trust must provided, then reviewed by underwriting. An amendment to the trust is usually required (provided by the lender). I welcome any questions. I am a full-time reverse mortgage specialist and work with attorneys and financial planners on a regular basis. My # 219-789-0409 or e-mail me at askflorian@gmail.comThank you.

Mar 12th 2013
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Reverse Mortgages can close with the tile being in a trust

Mar 12th 2013
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Raymond Denton (Raymond)
#10 ranked lender in Ohio - 224 contributions

Title will be held in the name of your Trust with a Reverse Mortgage, and it can be a Revocable or Irrevocable Trust. There will need to be two Attorney's that review it, one at the Title Company, to confirm it's compatible with Title Insurance, and the other with the Bank's Attorney, to confirm it's compatible with a Reverse Mortgage. I always have my Clients get their Living Trust reviewed first, before submitting the loan to Underwriting, so there won't be any issues or questions when the Bank's Attorney reviews the Trust.

Mar 12th 2013
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Julie Colangelo (JulieColangelo)
#866 ranked lender in California - 15 contributions

Yes, Title can remain in Trust. Depending on the Lender an Attorney Opinion Letter or Trust Certification may be requried. Very simple to obtain with my help of course. I am passionate about Reverse Mortgage and have helped clients in your area.Please call me directly @ 562-618-1644 or visit my website for Important FAQS and the process. www.Julie4ReverseMortgage.com Warmest, Julie Colangelo; Long Beach, CA

Mar 12th 2013
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Julie Colangelo (JulieColangelo)
#866 ranked lender in California - 15 contributions

Yes, Title can remain in the Trust. Other attachments may be required by the Lender such as an Attorney Opinion Letter or Trust Certification. Very easy to obtain. I am passionate about Reverse Mortgage and have helped several clients in your area. Please call me directly at 562-618-1644 or visit my website for FAQs and the application process www.Julie4ReverseMortgage.com Warmest, Julie Colangelo Long Beach, CA

Mar 12th 2013
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Diane Quitmeyer (Reversemortgagesspecialist)
#34 ranked lender in Missouri - 13 contributions

Yes the property can remain in a trust unless you live in Texas. I have done many loans in trust over my seven year career. If I can be of assistance, please let me know. You can visit my website to learn more at www.reversemortgagesspecialist.com. Good luck!

Mar 12th 2013
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