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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 29118
Experience:  30 years of real estate practice experience.
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I talked to Loren before. my question that in Michigan i a

Customer Question

i talked to Loren before. my question that in Michigan i a non bower spouse can apply for a non bower spouse program. the spouse needs write a letter to apply, also birth and marriage certificate and id to show that is where she reside by sending id. they need a marketable title , the problem is that she signed a quit claim deed when the reverse mortgage was signed, would that impact my mothers chances of being accepted in the program
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Loren replied 6 months ago.
Typically, with non-borrower/non-owner arrangements, it is enough that the person is the surviving spouse. I think you just need to put i the paperwork and wait for the response.
Customer: replied 6 months ago.
i also Found something called MOE. either a marketable title or lifelong legal right of residency ( what does does lifelong legal right of residency mean)
Expert:  Loren replied 6 months ago.
It means a life estate or other lifetime interest in the real property..
Customer: replied 6 months ago.
if she signed the quit claim deed giving up her rights how can she have liftime interest
Expert:  Loren replied 6 months ago.
She may be entitled as the surviving spouse. She has spousal rights or rights of inheritance.
Expert:  Loren replied 6 months ago.
Put in the application and see how they decide.
Customer: replied 6 months ago.
if this doe not work. I have a cousin that can buy the house . but he doesnt want to pay what the loan is for, i can see what the mortgage co. would take to settle the loan. instead of waiting till it sells,
Expert:  Loren replied 6 months ago.
That sounds like a reasonable plan.
Customer: replied 6 months ago.
hello Loren, I don't know if you are online. It's not the deed that i need for the non borrower spouse program but i need a title search to show ownership. How do i do a title search
Expert:  Loren replied 6 months ago.
You can order a title search from any title insurance company, or your lawyer can order it for you. Look up the nearest Chicago Title or Fidelity Title office and call them. The charge is nominal. Maybe a couple hundred dollars or so.
Customer: replied 6 months ago.
Thanks. I found this site that can do a search for under $30. They found my address. Are these sites trustworthy
Expert:  Loren replied 6 months ago.
If it is acceptable to the lender and FHA (you will need to ask or just submit the search and see if it is rejected) then it should be fine.If you have no further questions, and have not yet done so, please remember to leave a favorable rating (Excellent or Good) so that I am credited by JustAnswer for assisting you. A bonus is not required, but is always appreciated.

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