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can you get a reverse mortgage when i have a trust, and my wife is power of attorney.

by danettemarion from 19859 Freshwater Dr, California. May 12th 2011 Reply


Ron Pippin (RonPippin)
#26 ranked lender in Utah - 158 contributions

Yes, you can. I always highly suggest a trust anyway since it offers you so much additional protection. Ron Pippin 801-628-7667

May 13th 2011
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Richard Glover (rglover)
#35 ranked lender in Illinois - 69 contributions

Your wife is POA for the trust? For you? You can get a Reverse Mortgage if your property is in a Trust and it meets the lender's and HUD's guidelines for the Trust. An attorney will need to review the Trust, provide an opinion letter and it will need to be approved by the lender. It is not uncommon for a Reverse Mortgage to close in Trust because many current seniors put their house in trust years ago. If that is the case for you, you may want to review the trust and make sure it is up do date and meets your current needs, too. As to the POA, this brings in other questions, too. My company has the best arry of products in the area of Reverse Mortgage and I'm the resident expert so feel free to give me a "no obligation" phone call to review your questions. I may not be licensed in your state but am give you some guidence.

May 13th 2011
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