Reverse Mortgage Quick Question..

The answer to your question is yes but you need to be informed of the following:1) Under 62 spouse needs to be included in counseling and will need to sign some specific documents recognizing that they are aware of the fact that a reverse mortgage is being taken out. 2) There is significant risk to the "under 62" spouse because depending on how the Reverse Mortgage is done. Please be careful if somone is telling you that you can be "added" to the Reverse when you turn 62 because this could be unlikely unless managed properly. 3) Younger spouse needs to be fully aware of how this product works including the negative amortization aspect. That said, perhaps there is a greater reason that you are looking at the Reverse Mortgage. I have done them with a spouse younger than 62 but we had a long discussion about contingency plans around why the Reverse is being done in the first place. Please feel free to call me at 630 660 8444 and I'll be happy to help you figure this out with no obligation or pressure. Not looking to "make a sale" but I have done considerable work in the industry to improve the image of a widely misunderstood product. It is absolutely the best available financial program for seniors today!

Yes, however you would have to take the other spouse off of the Mortgage. We can handle that at the closing table. The downside is that the spouse that is deeded off would have to refinance or sell property if they out live the spouse that has the reverse.

The short answer..Yes..though only the borrower over 62 can go on the loan...Suggest you secure a mortgage consultation for complete details...