In 2007, my mother refinanced the house & she included me to the mortgage as a co-borrower. I also signed a paper that included me in the deed of the house. A few days ago, I talked to her about getting my own place bcoz mom & wife don’t get along with each other. She brought up that she is going to have a reverse mortgage after we move out so that I will not going to pay for 2mortgage (old & new house). It’s not that I’m against her, nor I’m interested in the property or the money. My only concern is the "will be effect" on my name since I’m on the loan & deed as well. If possible, I don’t want to have any problem later on especially now that I’m having my own family. I’m not familiar with this mortgage. Sometimes, it’s easy to say things that you do this & that without realizing the effect afterwards. My questions are:

1) I’m thinking of taking out my name to the loan & the deed as well, before mom do the reverse mortgage. But, I can’t refinance bcoz the house don’t have equity, & even I refinance or loan modification, without my name included, mom cannot qualify bcoz she is not financially stable. The house mortgage is 0,000; present loan amount of 2,000; & the house value is probably between 0,000-0,000. What will I do, & how will I do it?

2) Can she do the reverse mortgage even my name is still on the mortgage & deed? With no house equity, how can she have reverse mortgage then?

3) What would you suggest as the best thing to do?

Thanks in advance.

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I’m looking for celebrities, either actors, musicians, or other television and radio personalities who have actually gotten a reverse mortgage (not just someone who endorses one on TV).

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My grandfather had taken out a Reverse Mortgage on our home a year ago. Myself, my sister and our father all live in this house. How will this affect us when my grandfather passes away? Will we still be able to inherit the house if it is in his Will?

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……..will default soon ; then 273000 due or foreclosure. QUESTION: Age 67 with SS income 1200 monthly. Any refinance of reverse mortgage does not seem to be possible. Are they? Or any other loan options, assistance?

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There is no lien…etc on her home, her house was not ‘put up’ against my mortgage, she is not on the title/property deed of my property. Will this prevent her from getting a reverse mortgage on her home ? -she owns it free and clear. Thank-you.

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home is considered track home in trailer park. We pay ground rent and taxes yearly. Is there a bank that would give us a reverse mortgage under these conditions. Help in Pennsylvania.

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I’m 55 years old and physically disabled from the waist down, mortgage payments are difficult to meet and I would like to apply for a reverse mortgage, Is this possible?

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If my house is worth 0,000 and I have a first and second mortgage that adds up to about 5,000 can I still qualify for a reverse mortgage? Does it depend on how much equity I have in the house or liens on the property?

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Hi

I have few questions about reverse mortgages.

1) How the Principal limits are calculated for HECM monthly adj, annual adj and Fannie Mae programs of Reverse mortgage ? I know that it uses an expected rate, age of borrower and a HUD factor, i want HUD factors .. or the calculations.

2) How to determine the Credit line growth rate ? in the HECM and Fannie Mae ?

3) How to calculate monthly advances ? in HECM and fannie Mae.

please guide.
Oh, no, I am not lloking on my grandma’s property.

Actually I am a student of MBA in HK. and i wanna research on this.

All i want to understand the complete calculations and the resources like, FHL Lending Limits (i have this), and HUD Principal Limits Factors. etc.

Please help anyone. If there a system / software please let me know.

Thanks

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Can someone get a reverse mortgage on the property they live in but still collect rent from others they have? I don’t want to call one of these places because they are all 800 numbers, and I don’t want to be bothered by them until I’m more clear how these things work.

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My father recently passed away, the house was in his name. He had a reverse mortgage and his wife wants me to sign papers saying i won’t contest his will. BTW, I have not seen his will.

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would i still get the house that were living in when he passes away? even though he as the reverse mortgage and bankruptcy over him or what?

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How does a homeowner benefit from a reverse mortgage?

Does he get paid every month more than he’s currently paying on his mortgage (giving him extra cash per month)?

Does the lender bet on the house appreciating after the borrower dies?

Why would anybody want to pay or buy a house from a person who still lives in there (which they cannot utilize until this person dies)?

Is reverse mortgage designed for people who have nobody to give their houses to when they die?

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I have meet the requirements for a reverse mortgage and I was wondering if I can get a lump sum amount up front to do some repairs and then the balance in payments/

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I have a client that just informed me that she was late last month with her mortgage and is just going to make this month’s payment. She is in the process of applying for a reverse mortgage. Will this affect the approval since a rev mortgage is not based on credit and she will have no more mortgage payments when this goes thru? Thank you

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