What happens at the end of a reverse mortgage?

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What happens at the end of a reverse mortgage?

Category: Financial Planning with RM's Q & A

When the last remaining borrower passes away, the loan has to be repaid. Most heirs will repay the loan by selling the home. If your loan balance is more than the value of your home, your heirs won’t have to pay more than 95 percent of the appraised value. Aug 22, 2020