reverse mortgage

  Can my heirs keep or sell my home if I have a reverse mortgage loan?     It all depends. If there are no co-borrowers or an eligible non-borrowing spouse, your heirs must pay the entire loan debt in order to keep the house. To sell it, they would have to repay the entire loan sum or at least 95% of the appraised value if the loan debt is greater than the home value.     When you die, as well as any co-borrower(s) or qualifying non-borrowing spouse, your Reverse mortgage lenders san diego debt becomes due and payable. Your heirs have 30 days after receiving the lender's due and payable notice to buy, sell, or turn the house over to the lender to fulfill the obligation. This is true for the most frequent type of reverse mortgage loan, Home Equity Conversion Mortgages (HECMs).     If your heirs must sell the house,   Some heirs may not have enough money to repay the reverse mortgage loan and may be forced to sell their house.     If the loan total is less than the home's wort

  It varies. Your heirs will be required to pay the entire loan sum if there are no co-borrowers and/or an eligible non-borrowing spouse in order for them to keep the house. They would have to pay off the entire loan balance in order to sell it, or at least 95% of the home's appraised worth if the outstanding loan total is higher.     Your best mortgage companies to work for in california loan becomes due and payable once you, any co-borrower(s), or an eligible non-borrowing spouse, as applicable, have passed away. After receiving the lender's notice that the debt is due and payable, your heirs have 30 days to buy, sell, or transfer the house over to the lender in order to pay off the obligation. For Home Equity Conversion Mortgages (HECMs), the most popular kind of reverse mortgage loan, this is the case.     If your executors must sell the house   Some heirs might not have enough money to pay back the loan total and would have to sell the house to cover the debt.