In the News

Title

What to know to add a spouse to a reverse mortgage loan

Document Type

Article

Publication Date

1-30-2017

Abstract

Senior homeowners take out a reverse mortgage for needed cash to stay in their home and avoid struggling with expenses.

But when only one member of a senior couple is the named borrower on a reverse mortgage loan, it can create a troublesome situation whereby the borrowing spouse dies and the remaining partner is forced to pay off the loan