Reverse Mortgage Myths
Tackles persistent myths: 'the bank takes your home' (you keep the title), 'you could owe more than the home is worth' (it is a non-recourse loan), and 'you can't leave your home to your heirs' (heirs can keep it by repaying the balance, often by refinancing or selling). Facts matter when making a big decision.
Key points
- You keep the title to your home
- Non-recourse: never owe more than home value
- Heirs can keep the home by repaying the loan
- Separating myth from fact