09/15/2026
I was reading an article on REALTOR.COM about Reverse Mortgages and thought some of you might be interested. Here is a short summary:
Reverse mortgages can be a lifeline for seniors — but they can create a 30 day scramble for the family left behind.
If a homeowner passes away with a reverse mortgage, the loan becomes due immediately. Heirs usually have 30 days to decide whether to sell the home, buy it, or turn it over to the lender.
The good news: heirs aren’t responsible if the loan is underwater — the home can be sold for 95% of its appraised value. The hard part: probate, appraisals, financing, and paperwork all have to move fast.
With more seniors tapping their home equity than ever, families should talk through these decisions before a reverse mortgage is taken out. It can save stress, money, and even the home itself.
