Will I be able to sell my home?

By , Posted on Sep 24, 2015

You are still going to be considered the owner of your home and as such you will be able to sell it whenever you would like. Be aware, however that if you chose to sell your home, you will be required to repay the Reverse Mortgage loan when the name on the home changes from your own to a different name. Remember that the non-recourse clause states that your Reverse Mortgage balance can never be more than your home is worth, meaning that when you sell your home you should make enough on the sale to pay off the loan, but how much you will have leftover will depend on how much you were able to sell your home for, and how high your loan balance was at the time of the sale.

Questions? Enter Your Details

We’ll Call You

We value your privacy and your information is confidential. Check our Privacy Policy.
Top-Rated Nonprofit
(5 of 5 stars)
Share via
Copy link
Powered by Social Snap