Moving to Assisted Living

A reverse mortgage requires the home to remain your primary residence. If you move out of the home into an assisted living facility or nursing home for longer than 12 consecutive months, the loan becomes due and payable.

Planning for Care

If you need temporary care (less than 12 months), the loan remains in good standing. If you must move permanently, you or your family can sell the home to repay the loan, keeping any remaining equity.

A reverse mortgage is a loan secured by the home. Borrowers remain responsible for taxes, insurance, property maintenance, and complying with loan terms.