Yes — you keep ownership with a reverse mortgage. The loan is a lien on title. Learn how ownership, heirs, and selling the home work.
Do I Still Own My Home With a Reverse Mortgage? | 2MG
Yes — you keep ownership with a reverse mortgage. The loan is a lien on title. Learn how ownership, heirs, and selling the home work.
Do I Still Own My Home?
Ownership Stays With You
At a Glance
What Ownership Means Day to Day
Clarify Ownership Before You Close
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Frequently Asked Questions
Want Clarity on Ownership?
Yes. With a reverse mortgage you remain the owner of your home. The lender places a lien on the property — it does not take the deed. You keep title as long as you meet the loan's occupancy and property-charge requirements.
When you close a HECM reverse mortgage, the deed stays in your name — or in the names of the borrowers on title. The lender records a mortgage lien against the property, but ownership does not transfer. You are still the homeowner, just as you would be with a traditional forward mortgage on the books.
Ownership also means responsibility. You must pay property taxes and homeowners insurance, keep the home maintained, and live there as your primary residence. Those are the same kinds of obligations that come with owning any home — the reverse mortgage adds a lien and accrues a balance, but it does not remove your role as owner.
When the loan becomes due — typically at sale, permanent move, or death — heirs or the estate can sell the home, refinance, or pay off the balance. Any equity left after payoff belongs to you or your heirs. On FHA-insured HECMs, non-recourse provisions often mean heirs are not personally liable for more than the home's value at payoff.
You keep the rights and responsibilities of a homeowner — with a lien on title, not a change in ownership.
Know how title, the lien, and payoff work before you sign — counseling and your closing disclosure help.
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Ryan & Steve can walk you through how title, the lien, and heir options work before you decide — not a commitment to lend; subject to credit and property approval.