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My husband would like to apply for a reverse mortgage in…

My husband would like...

My husband would like to apply for a reverse mortgage in Texas but I am 59. If I sign a waiver of homestead rights, how long does he have to wait to apply for the mortgage?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

Texas

Lawyer's Assistant: Has any paperwork been filed?

No

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Answered in 15 minutes by:
11/4/2017
Law Educator, Esq.
Category: Real Estate Law
Satisfied Customers: 125,787
Experience: Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Generally, under Texas law a waiver of homestead rights is not enforceable. See: Lincoln v. Bennett, 156 S.W.2d 504, 505 (Tex. 1941); First Interstate Bank of Bedford v. Bland, 810 S.W.2d 277, 283–84 (Tex. App.—Fort Worth 1991, no writ). The courts simply will refuse to enforce such waivers. However, if the reverse mortgage company is seeking for you to waive your community property rights in the home, if you do so, then your husband could immediately get the mortgage. There is no waiting period from the waiver to filing for the mortgage.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

Law Educator, Esq.
Category: Real Estate Law
Satisfied Customers: 125,787
Experience: Licensed attorney practicing landlord-tenant, land use and other real estate law and litigation.
Verified
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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