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If your spouse took out a reverse mortgage and you aren’t on the loan—or if you know someone in this situation—you need to understand what rights you have and what rights you lack. Reverse mortgage laws for non-borrowing spouses can be confusing, but they determine whether or not the spouse can continue to live in the home and receive reverse mortgage proceeds if the borrowing spouse dies or moves out.

Why Some Spouses Aren’t Co-Borrowers on Reverse Mortgages

A homeowner must be at least 62 years old to take out an FHA reverse mortgage.

When one spouse is older than the other, the older spouse may be eligible to take out a reverse mortgage while their younger partner is not. If the couple wants to take out the loan, the older spouse will be the sole borrower. The amount available to borrow will be based on the younger spouse’s age.