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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 36925
Experience:  Texas Attorney for 30 years dealing in real estate
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We've had a reverse mortgage since 2009 however my name is

Customer Question

We've had a reverse mortgage since 2009 however my name is ***** ***** it as I was not old enough at the time to get what we needed. The house is in a trust for me. Is there anyway to get my name added to the mortgage? I am 71 and my husband is 84.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

Hi and welcome to JA. I am Ray and will be the expert helping you today.

You would need lender consent to do so.The trust would then need to deed it back to the both of you here and then both of you back to the trust.That will require a couple of quit claim deeds assuming the lender goes along with it.Legally it is doable , the problem would be the lender agreeing.If you can get them to do so then this can be done quite easily.

Here are the quit claim forms.

http://www.theroadsite.com/files/DEED.pdf

If the property is in the name of the trust the trustees would quit claim it to the two of you individually and a second quit claim from the two of you back to the living trust.

I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.

Expert:  Ray replied 1 year ago.

I just wanted to add here that the law changed, it will not help you but I thought you might find it interesting.

http://www.nextavenue.org/2-new-reverse-mortgage-rules-couples/


Good luck with all of this.
If you can leave a positive rating when we are done it is always much appreciated.

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