How long will reverse mortgage lending last?

Answer The term of a reverse mortgage lasts as long as the mortgaged home is your primary residence. The loan ends when you die or the residence is no longer your primary residence. At this point, the hom... Read More »

Top Q&A For: How long will reverse mortgage lending last

How Long Do My Heirs Have to Pay Off a Reverse Mortgage?

A reverse mortgage loan becomes due in full when either you no longer live in the your home or pass away. However, when you pass away, your mortgage company cannot legally demand immediate payment ... Read More »

How long do you have to sell when a reverse mortgage ends?

You do not have to sell your home if you outlive the loan agreement for a reverse mortgage. Provided you keep the taxes and insurance current, you may continue to live there as long as you want.Ref... Read More »

Can you have a second mortgage included with a reverse mortgage?

A borrower who is 62 or older can purchase a reverse mortgage to pay off any and all debt on their primary residence, including a first and second mortgage debt.SignificanceA reverse mortgage pays ... Read More »

Texas Mortgage Lending Laws?

Texas mortgage lending laws are somewhat different from those in most states. The Texas legislature has in place several restrictions on mortgage lending that are intended to provide stability to t... Read More »