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Can a reverse mortgage be reversed?

Updated: 9/15/2023
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Wiki User

14y ago

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From Talk Refinance:
You do not have to repay this loan in your lifetime. Once your home is sold should you pass away the repayment will be taken from the proceeds of your home. Repayment also occurs if you decide to sell your home, or move out of your home.

http://www.talkrefinance.com

HUD says:
When you sell your home, you or your estate will repay the cash you received from the reverse mortgage plus interest and other fees, to the lender. The remaining equity in your home, if any, belongs to you or to your heirs.


http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm

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14y ago
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12y ago

Yes, there is no prepayment penalty so it can be refinanced at any time. there are even reverse mortgage streamline programs available. The home can be sold at any time and the equity belongs to the home owner.

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