After 30 years in mortgages, I’ve seen just about every scenario that can come up—including the tough questions around inheriting a house with a reverse mortgage. If the borrower passes away, the loan doesn’t just disappear—the balance needs to be repaid, or the property is turned over. There are options: a co-borrower or a qualifying non-borrowing spouse might be able to stay put, as long as taxes and insurance are kept up and certain requirements are met. Navigating these rules can get complicated fast, especially for families already dealing with a lot. I’ve helped clients through situations like this before, structuring solutions so they’re not just left with a set of confusing papers. It’s another example of how understanding the details—and the people behind them—matters just as much as knowing the numbers.
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