When I pass, if my kids want to pay off the balance on my loan, do they pay anything beyond the balance? How long due they have to complete the process?
My home needs upgraded. I want to get a reverse mortgage to do home improvements. Without doing the improvements first, the amount of money I will be able to access will not be as much as it would be if I had done the upgrades first. But I don't have the money to do them! How will I benefit by getting a reverse mortgage now if the value of my home goes up after I procure the RM? Is there any way to draw off the increased value of my home?