PJ's Reverse Mortgage Blog

A reverse mortgage is like any other mortgage in that, if you die or sell the house, your mortgage loan becomes due and it will have to be paid off.

When your loan is due, your heirs have choices.  They can repay the loan and keep the house, or, because this is a non-recorse loan, they can sell the house to repay the loan, with no out of pocket money form the heirs. PJ