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'Trusts, POA, Attorney' Category Archives

Resource for Conservators Seeking Reverse Mortgages

The process of taking out a reverse mortgage on a property that is in conservatorship takes a few steps, but it can be done. Conservatorships are established when a court deems a person incapable of making certain decisions, and can encompass two categories: for a person, or for a person’s estate. Some conservatorships cover both aspects. They are generally put...
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Reverse Mortgage Attorney Asks: Laws of Survivorship

Husband & Wife, both over 70-years-old, occupied principal residence in California for many, many years and have no other home. Husband had a fall in late 2016 and was discharged from the hospital to a board & care facility to recover. Husband had been at board & care facility for 4 months when husband & wife applied for a...
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Can my attorney review sample documents / loan agreement?

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If I decide on a reverse mortgage with your company, would you have any objections to my attorney reviewing the sample documents before signing? There is never a problem with your attorney reviewing anything you sign but I would just like to ask to which documents you are referring?  Do you mean the original application package, the final loan documents that actually...
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Can you get a Reverse Mortgage with a Life-Estate?

Question from an ARLO Reader: “I am considering a RM and have my debt free property in a Life Estate, my Sis is the Grantee. I understand she would have to sign the loan/closing docs without having to have had the Counseling but where I am fuzzy is, title would still be held in the Life Estate, correct? Are...
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Reverse Mortgage Power of Attorney & Trusts Matters

A borrower’s home title is an essential component of a reverse mortgage transaction, and if not handled correctly, can cause for delays in the process and headaches for the borrower and the lender or title agent. The lender will gather all the essential information, but it’s good to be prepared with documentation and to be able to respond to questions...
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