QUESTION:

what happens when the borrower dies?

if there is more then one person on the deed to the house and the borrower dies does the house still have to be sold?
asked by siridesigns@yahoo.com, 6/2/2009
Categories: Reverse Mortgages
ANSWERS:
Answered by: JBerman47, 06/04/09
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Assuming that the property had multiple titleholders when the reverse mortgage was acquired, then the death of one titleholder would not end the Reverse Mortgage. A Reverse Mortgage only comes to an end when all of the titleholders have died or moved permanently (or have sold the property).

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