The loan is due when the last person on title dies sells, moves, or dies.
The heirs must promptly inform the customer service center about the death.
Heirs must inform the customer service center what their intentions are
100% of the home goes to the heirs.
It is very simple; there are only two choices.
Heirs can choose to keep the home and pay off the current Jumbo reverse mortgage lien.
Or they can choose to sell the home and pay off the current Jumbo reverse mortgage lien from the sale proceeds. The heirs keep all the sales proceeds after the Jumbo reverse mortgage lien is paid in full.
In general, the heirs have around six months to settle the estate.
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