Join AARP today. Get instant access to discounts, programs, services and the information you need to benefit every area of your life.
Living on a Budget
From the AARP Bulletin Print Edition, April 1, 2010
Q. My father took out a reverse mortgage before he married his new wife. Now that Dad has died, who is responsible for paying off the reverse mortgage?
A. Whoever inherits the house—most likely the spouse—must pay off the reverse mortgage, which becomes due when the borrower dies. Interest continues to be charged on the unpaid loan balance, so it’s to the heir’s advantage to repay the loan as soon as possible.
The home would have to be sold only if neither his estate nor his widow could arrange to refinance or take out a new reverse mortgage.
Source: Sally Hurme, AARP
Note: We are currently in the process of replacing our commenting service, so it may take a few days for previous comments to appear. Login or register on AARP.org to join the conversation.
Featured AARP Member Benefits
See All >
You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits.
Your email address is now confirmed.
You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age.
You can also manage your communication preferences by updating your account at anytime. You will be asked to register or log in.
In the next 24 hours, you will receive an email to confirm your subscription to receive emails
related to AARP volunteering. Once you confirm that subscription, you will regularly
receive communications related to AARP volunteering. In the meantime, please feel free
to search for ways to make a difference in your community at