No. When you take out a reverse mortgage loan, the title to your home remains with you. You must continue to pay for repairs, property insurance, and taxes. When your move out, sell the home, or the last surviving borrower ...
Your reverse mortgage loan becomes due when the last surviving borrower dies or no longer lives in the home for 12 continuous months or more, including due to a hospitalization or moving into a nursing home. Your heirs must pay ...
You do not have to pay an estate planning service or anyone else to find you a reverse mortgage. The Department of Housing and Urban Development (HUD) provides both a list of HUD-approved lenders on its website at no cost ...
This will depend on whether you and your spouse are listed as co-owners on the property deed and as co-borrowers on the reverse mortgage loan. Reverse mortgage loans generally require that all property owners be listed as borrowers and that ...