Can a reverse mortgage be reversed?

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 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 hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm.

All materials copyrighted © 2012 National Reverse Mortgage Lenders Association.

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