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From Talk Refinance:
You do not have to repay this loan in your lifetime. Once your home is sold should you pass away the repayment will be taken from the proceeds of your home. Repayment also occurs if you decide to sell your home, or move out of your home.

http://www.talkrefinance.com

HUD says:
When you sell your home, you or your estate will repay the cash you received from the reverse mortgage plus interest and other fees, to the lender. The remaining equity in your home, if any, belongs to you or to your heirs.


http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm

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15y ago

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Related Questions

Do you still have to pay monthly mortgage if you have a reverse mortgage?

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A reverse mortgage lead is where you can get names of people that are interested in getting a reverse mortgage. These leads should already have been screened to meet the criteria for a reverse mortgage.


What are the reverse mortgage scams taking place today?

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What is the adjective of reverse?

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Reverse Mortgage Calculator?

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What is American reverse mortgage?

American reverse mortgage is when you borrow money based on the value of your house. A reverse mortgage has the option of being a lump sum or installments.


Where can you find a reverse mortgage calculator?

Reverse mortgage calculators can be found on line on most mortgage websites.There are hundreds of mortgage loan sites.& This calculator makes it easier to understand the reverse mortgage math and to let you see if this type of mortgage is best for you.


Where can I learn about liberty reverse mortgage?

You can learn about liberty reverse mortgage from any local tax consultant or by finding it on a website which deals specifically with liberty reverse mortgage.


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yes, you can refinance it to a regular mortgage, or if interest rates are lower you can streamline it to a new reverse mortgage.


Can you get a reverse mortgage if you file bankruptcy?

Yes, a reverse mortgage does not have any credit requirements, however if you are in bankruptcy or filing one you may need court approval to do the reverse mortgage.


Where can one get reverse mortgage quotes?

There are many places where one can get reverse mortgage quotes. One can get reverse mortgage quotes at popular on the web sources such as ARRP and Bank Rate.


What do you do with marketing and reverse mortgage?

There isn't any marketing that you need to do for an reverse mortgage. All you have to do is visit a local realator and you can also go online and search under reverse mortgage.