With a reverse mortgage loan, can my heirs keep or sell my home after I die?
It depends. If there are no co-borrowers or an eligible non-borrowing spouse, your heirs will need to pay the full loan balance to keep the home. To sell it, they would need to repay the full loan balance or at ...
If I take out a reverse mortgage loan, does the lender own my home?
No. When you take out a reverse mortgage loan, the title to your home remains with you. Most reverse mortgages are Home Equity Conversion Mortgages (HECMs). The Federal Housing Administration (FHA), a part of the Department of Housing and Urban ...