Do I lose my home with a reverse mortgage?
No. With a reverse mortgage you remain on title and continue to own your home. As long as you live there, pay property taxes and insurance, and maintain the home, the loan cannot be called due.
No. With a reverse mortgage you remain on title and continue to own your home. As long as you live there, pay property taxes and insurance, and maintain the home, the loan cannot be called due.
Detailed answer
This is the most common misconception. You retain ownership. The lender does not take title. You and your heirs keep the home and any remaining equity when the loan is repaid — typically when the last borrower permanently leaves the home. Heirs may sell, refinance, or pay off the balance to keep the home.
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