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What happens if you have a reverse mortgage and then marry someone who is under 62?
Wiki User
∙ 12y ago
You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.
You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.
You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.
You granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoYou granted the mortgage on your property and it would not be affected by your subsequent marriage. It is likely there is a clause in the mortgage that you cannot transfer any interest without the banks approval. That would prevent your adding a name to the title. Your property will remain subject to the mortgage and if you are still married at the time of your death either the bank will take possession of your home or your surviving spouse will need to pay off the mortgage if they want to keep the property. The amount due on reverse mortgages grows rather quickly.
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Will it reflect on your credit if you have extremely good credit and you marry someone with bad credit?
No, but it may cause difficulty when applying for joint credit such as a mortgage. ___________________________________________________________________________________ You are a sole entity as long as you do not apply for monies together therfore you will NOT be penalized by your hubbies lack of credit. Y-THINK-Y
If a marry couple died without a will what happens?
The estate goes into probate and will be awarded to the state or residency.
What happens to your credit if you marry someone who has filed bankruptcy in the past?
If the couple apply for any type of joint financing such as a home morgage it could create difficulties. Other than joint financial transactions the credit of the spouse who was not a party in the BK will not be affected
What happens if you were unmarried and got a home loan and then you marry?
Nothing, so long as you do not get divorced or die, and then it varies by situation and state. If you refinance after you are married, your spouse may be a borrower with you or may "join in" on the mortgage. Again that depends on certain conditions of the refinance such as whether or not you are refinancing your homestead property. Finally when you sell, depending on the same factors, you husband or wife may have a role to play in that sale.
My husband passed away he owes the mortgage but my name is on the deed and not on the loan but you have been making the mortgage payment can the lender take your property away?
few things i would have to know first ... was the mortgage taken out on the house that you shared ??? did you legally marry him in the USA ??? is the property in the USA ??? if all answers are YES then YES they can ... the house is legally half his by common law ... i take it you never disputed the mortgage... there for you agreed to the loan ... you take on the debt ... if there was a will of intent that named you as a benefactor then you take on ALL of his debts ... you don't say for better or worst just meaning love ...
What happens when you marry someone who has the same first letter as you?
Nothing
What kind of Trust Fund do I set up to pay a mortgage so I do not have to refinance my mortgage once divorced?
If i were you i would not get divorced in the first place you better get here back before she marry someone else
Would you ever marry someone for their looks?
No, you don't marry someone for their appearance's .You marry someone for what they they look inside and their feeling's. I would marry a nerd who is really smart and that uses classes. what is to marry someone that has feelings
If you marry someone with bad credit does is mean you would also have bad credit as well?
Not necessarily. However, if you enter into a joint financial transaction such as a mortgage, it may have a negative impact.
What happens to malfoy?
He doesn't die he marry's someone called Astoria Greengrass a slytherine pure blood and they have a son called scorpius
Did Blanche Scott marry someone and who did he marry?
no did not get married
What does it mean to marry older?
to marry someone older than you
Can you sue someone who promiced to marry you and later said he will not marry you?
Nope
Who do you think will marry me?
NO ONE WOULD EVER MARRY SOMEONE LIKE YOU!!!!!!!!!!!!!!!!!!
What are the words to marry someone?
Girls name. Will you marry me? These are the 5 words!
Can someone in the navy marry someone in the air force?
obviously.
I want to marry?
what you will do is get down on your knees and say to her "will you marry me?" and that is how you will ask someone to get married to you
