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Backward Loans: The Reverse Mortgage Loan 
 
by Sandra Bell July 26, 2005

Do my heirs have to pay off my reverse mortgage loan?

Yes. They may either sell the home to pay off the debt or, if they wish to keep the home, they may pay off the debt. The debt owed equals all loan advances plus interest. If that amount is less than the home is worth, the heirs keep the difference.

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