Can I use a Quit Claim Form to "remove" my two children off my property deed to my house.??

You are correct that having your children as co-owners will limit your ability to get a reverse mortgage -- if they are not both over 62. But a quit claim deed cannot pass title.  Title can be passed by a deed of gift in the form of either a general or a special warranty deed.  (A quit claim deed is more properly used to record that one quits claiming a right to use something, such as an easement.)