Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com What happens when you have a reverse mortgage and the owner dies? When the owner of a reverse mortgage passes away, the loan must be paid off. If the beneficiaries want to keep the house, they can refinance the loan, or use other assets to repay the loan. If they don't want to keep the house, they can sell it. If the market value of the house is less than what is owed on the reverse mortgage loan, the property can be returned to the lender without any recourse. The heirs are not responsible for repaying any remaining balance on the loan. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Who is responsible for repairs on a reverse mortgage? The homeowner is responsible for the general maintenance and upkeep of the property, including any needed repairs. The lender may be able to provide resources or guidance with certain repairs, but the homeowner, not the lender, is responsible for making sure the home is maintained and stays in good condition. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com

Reverse Mortgage Resource Center - 385-503-2224 - https://reversemortgageresourcecenter.com Do you need insurance for a reverse mortgage? Yes, you need insurance for a reverse mortgage. There are two types of insurance that are required for a reverse mortgage. You will have mortgage insurance as well as homeowners insurance. Mortgage insurance protects the lender. Homeowners insurance protects the home. Your lender will set up the mortgage insurance, and you will set up the homeowners insurance. It's important to shop around and compare different policies to ensure you're getting the best coverage at the best price. Our team of experts is dedicated to answering any questions and concerns. Give us a call to schedule a no-obligation consultation, and let us show you how a reverse mortgage can benefit you. Reverse Mortgage Resource Center 11240 River Heights Dr Suite 100 South Jordan, Utah 84095 385-503-2224 https://reversemortgageresourcecenter.com