It’s All Good asked:


If someone who has a reverse mortgage, and has been receiving payments for a few years, passes away before they are able to receive the full value for their home, what happens next? I think that what happens is the property is sold by the estate and the balance owed on the mortgage is paid from the proceeds of sale, but I need to find out where this is in writing. Is there a statute or code somewhere regarding reverse mortgages? Thanks!