Yes — and here’s how it works.

If you’re considering a reverse mortgage, you might be wondering:

🏡 Understanding Reverse Mortgage and Inheritance

👉 “Will I still be able to leave the home to my children or heirs?”

This is one of the most common and important questions we hear — and the good news is:
✅ Yes, your heirs can still inherit the home.

Let’s walk through what happens when a homeowner with a reverse mortgage passes away, and how the inheritance process works.

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✅ First: You Still Own the Home

With a reverse mortgage (HECM), you never give up ownership of your home.

You continue to:

• Hold title
• Make decisions about the property
• Sell, refinance, or leave it to family through your will or trust

The reverse mortgage is simply a lien — just like a traditional mortgage — that gets paid off later.

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🔁 What Happens When the Homeowner Passes?

When you pass away, your heirs can:

1. Keep the home

• They pay off the reverse mortgage balance using cash, refinancing, or other funds
• They keep the home free and clear

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2. Sell the home

• The proceeds pay off the reverse mortgage balance
• Any remaining equity belongs to your heirs

✅ If the home sells for more than what’s owed, your family keeps the profit
✅ If it sells for less than what’s owed, FHA mortgage insurance covers the difference — your heirs are not responsible for the shortfall

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🛡️ Reverse Mortgages Are “Non-Recourse Loans”

This means:

• Your estate or heirs can never owe more than the home is worth
• The loan is repaid only from the value of the home — not from other assets or income
• FHA insurance protects your heirs from debt or financial liability

📘 This protection is built into every federally-insured HECM loan.

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🧠 What Heirs Need to Know

• They’ll typically have 6 months to decide whether to keep or sell the home
• They can request two 3-month extensions if needed
• We recommend having a plan ahead of time to:
  • Communicate your wishes
  • Ensure access to legal documents
  • Understand payoff or sales processes

💡 We’re happy to talk to adult children now — not just later — so everyone is on the same page.

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🏢 Why PRMI?

We help families:

• Understand how reverse mortgage inheritance really works
• Build a plan that fits your goals and your family’s future
• Avoid surprises by keeping things clear, simple, and honest
• Structure reverse mortgages that protect your equity and your legacy

Homeownership is part of your legacy — and we’ll help you make sure it stays that way.

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👇 Want to Talk Through How a Reverse Mortgage Would Affect Your Heirs?

We’re happy to include your family in the conversation, walk through inheritance scenarios, and answer every “what if” with clarity and care.