🔺 r/personalfinanceuVarious_Cricket4695·66 days ago
Does a reverse mortgage become due if the owner of the house is moved into a nursing home?
My friend‘s mother is a sole owner of a reverse mortgage for a house that has little to no equity left. My friend believes that she may be able to stay in the house until her mother dies. This is a permanent move to a nursing home, and there is no expectation that the mother will move back into the house, which has the reverse mortgage. I can’t get my hands on the reverse mortgage paperwork, but I suspect she is wrong and in for a rude awakening at some point. submitted by /u/Various_Cricket4695 to r/personalfinance [link] [comments]