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Will I ever owe more than my home is worth?

All reverse mortgages are “non-recourse” loans, meaning you can never owe more than the value of the home regardless of the loan balance, assuming an arm's length transaction.  When the Reverse Mortgage becomes due, you, your heirs or estate must pay the amount that's due to the lender defined as the lesser of the Reverse Mortgage loan balance or 95% of the appraised market value of the home.