Follow
Share

We live in Texas and it's a community property. My husband put down that he was single at the time of getting a reverse mortgage when he was not.

They should, yes, know who is on the deed and title of the home. As to anything else about single, married or divorced, they are making a loan to a PERSON and the home is the collateral and a part of this loan. So if you are on deed or title that makes a difference overall; I am certain no reputable reverse mortgage company would make a loan without ascertaining the ownership of the home, but then I have been wrong before!
Helpful Answer (0)
Reply to AlvaDeer
Report

Did you ask you DH why he did this?

Are you on the deed? If so this reversed mortgage will effect you especially if he needs to go into care or dies. At that point the Mortgage will be due. Not sure if the Mortgage company cares because the loan is based on the equity but sure this will effect you in the long run.
Helpful Answer (0)
Reply to JoAnn29
Report

It might matter more who is on the deed. If your on the deed?
Helpful Answer (0)
Reply to Anxietynacy
Report

Ask a Question
Subscribe to
Our Newsletter