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  • Contractually, the Reverse Mortgage is due and payable 30 days after the last person on Title no longer resides in the house as their primary residence. If there's equity left in the property, as a courtesy, the Lenders provide up to 12 months for the Estate to be settled, as long as the Estate is earnestly working towards that effort.

  • Login to rate this answer:   Answered on 12/20/2012
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.