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What happens to a reverse mortgage when the homeowner moves out or passes away?
1 Min. read
When a reverse mortgage borrower passes away, stops living in the home as a primary residence, or sells the home, the loan becomes due and payable. There are several ways to resolve the loan, including selling the home or repaying the outstanding mortgage loan balance through other means. Learn More
About the author
Chris Orzeske
Disclaimer
This article is intended for general informational and educational purposes only and should not be construed as financial or tax advice. For tax advice, please consult a tax professional. For more information about whether a reverse mortgage fits into your retirement strategy, you should consult your financial advisor.
