06/27/2026
🏡 A Reverse Mortgage Isn’t Necessarily Bad… But It Is Something Families Should Understand.
Years ago, when I worked for SunTrust, our bank briefly offered reverse mortgages. During that time, I learned something that’s still true today:
A reverse mortgage isn’t inherently good or bad—it simply serves a specific purpose for certain homeowners.
For some retirees, it can:
✔ Help supplement retirement income.
✔ Allow them to remain in their home.
✔ Provide access to home equity without making monthly mortgage payments.*
But it also comes with important considerations.
If a loved one has a reverse mortgage, don’t panic—but don’t ignore it either.
Here are a few things you should do:
📋 Find the loan documents.
Understanding the type of reverse mortgage and its terms is the first step.
📞 Contact the loan servicer.
Ask what happens now, what deadlines apply, and what options are available to the estate or heirs.
🏡 Determine the home’s current value.
Knowing the market value can help you evaluate whether selling, refinancing, or keeping the home makes the most financial sense.
⚖️ Talk with the right professionals.
An estate attorney, tax professional, and knowledgeable real estate professional can help you understand your options and avoid unnecessary mistakes.
One of the biggest misconceptions I hear is:
“The bank automatically gets the house.”
In reality, heirs often have options. Depending on the loan terms and circumstances, they may be able to sell the property, pay off or refinance the loan and keep the home, or choose another path that makes sense for the family.
The key is understanding your choices before making a decision.
If your family discovers that a loved one had a reverse mortgage and you’re not sure what to do next, I’d be happy to help you understand the process and connect you with the right professionals.
Educational information only. This is not legal, tax, or financial advice. Reverse mortgage rules vary depending on the loan program and individual circumstances.
