Can You Be Kicked Out Of Your Home With A Reverse Mortgage?
The answer is yes, you can lose your home with a reverse mortgage. However, there are only specific situations where this may occur: You no longer live in your home as your primary residence. You move or sell your home.
Can they kick you out from a reverse mortgage?
Yes, heirs can walk away from a reverse mortgaged home. The loan is non-recourse which means that the lender's only security is the property.
Timeframe to Vacate Home After Reverse Mortgage
How long can you stay in a house with a reverse mortgage?
HECMs generally give you bigger loan advances at a lower total cost than proprietary loans do. In the HECM program, a borrower generally can live in a nursing home or other medical facility for up to 12 consecutive months before the loan must be repaid.
Reverse Mortgages | FTC Consumer Information