Reverse Mortgage Success Stories-Kim DodgeFor the Non-Borrowing Spouse in a Reverse Mortgage there are important protections in place. In this interview, Kim Dodge, of Usher Financial Group talks with Des Lenz, Director, at American Pacific Reverse Mortgage Corporation.  The topic is on the benefits and protections for the reverse mortgage borrowers called the Non-Borrowing Spouse Rules.

The Bureau of Housing and Urban Development (HUD) have instituted a lot of changes to the Reverse Mortgage. These changes have increased the protections for borrowers, and the Non-Borrowing Spouse Rule is one of them.  “Reverse Mortgages have evolved over time to meet the needs of today’s homeowners.” Says Kim.  “A Reverse Mortgage is not for everyone, but it should be looked at as an option for retirement planning.”


Non-Borrowing Spouse Rules:
– The non-borrowing spouse is married to the borrower at the time of the loan closing
(and remains married to the borrower for the duration of the borrower’s lifetime)
– The non-borrowing spouse does not have to be 62 or older|
– Their spousal status is disclosed at the time of the closing|
– The non-borrowing spouse is named in the loan documents
– The non-borrowing spouse has occupied, and continues to occupy, the property
– The non-borrowing spouse establishes legal ownership within 90 days of the death
of the last surviving borrower
– The non-borrowing spouse meets all of the obligations described in the loan documents.

To learn more, listen to Des Lenz and Kim Dodge:


Contact Kim Dodge for more information on Reverse Mortgage

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Kim Dodge, nmls 186099 has over 8 years of experience as a Reverse Mortgage Specialist with Usher Financial Group.

Des Lenz is the Director of American Pacific Reverse Mortgage Corporation, NMLS 212971, CA BRE 01140423

Usher Financial Group is a division of American Pacific Mortgage Corporation NMLS 1850. A Reverse Mortgage is a loan that must be re-paid. Homeowner is responsible for taxes, home owners insurance, maintenance of home, HOA dues and must be a primary residence. Eligible non-borrowing spouse may be under 62 years old. These materials are not from HUD or FHA. This document was not approved by the Department or Government Agency. Equal Housing Opportunity