Legal Question in Real Estate Law in Maryland

Not when the homeowner lives in the home and keeps up with the taxes and insurance. The loan may become due if the homeowner decides to move elsewhere. In a reverse mortgage, the bank gives the homeowner a certain amount of money and in exchange the homeowner promises that the bank will (eventually) get repaid. When the homeowner dies (or decides to sell or move), the loan must get paid off.

Before deciding to take out a reverse mortgage I encourage you to sit down with a qualified planner to figure out if such a move makes the most sense in your particular situation.

While I hope this post helps you, it does not offer legal advice about your particular situation and does not create an attorney/client relationship.