Reverse Mortgage
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Reverse Mortgage

This forum promotes education about the FHA Guaranteed Home Equity Conversion Mortgage (HECM) and other proprietary reverse mortgage products.


REVERSE MORTGAGE MONEY LEFT

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Reverse Mortgage :: Reverse Mortgage Basic Information :: Legal information about Reverse Mortgages

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Post  Linn F Tue Feb 05, 2008 9:38 am

If you pass away, does the money left over go back to the lending place or do my heirs get the money if I don't spend it all.

Linn F

Posts : 20
Join date : 2008-02-05

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REVERSE MORTGAGE MONEY LEFT Empty Re: REVERSE MORTGAGE MONEY LEFT

Post  Nini Stone Thu Feb 07, 2008 12:14 pm

The remaining equity in your home, if any, belongs to you or to your heirs. None of your other assets will be affected by HUD's reverse mortgage loan. This debt will never be passed along to the estate or heirs.

Nini Stone

Posts : 17
Join date : 2008-02-04

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Reverse Mortgage :: Reverse Mortgage Basic Information :: Legal information about Reverse Mortgages

 
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