For Loan Support Call: 866-654-0020
Manage Your Account

Customer Satisfaction is Our #1 Priority

RMF Price Match Program

As a loyal RMF customer, you can be sure that we'll be with you every step of the way. With our Customer for Life Commitment, we’re here to provide you with personalized, ongoing service throughout the life of your reverse mortgage loan.

We pride ourselves on maintaining long-term relationships with our customers. And we're committed to ensuring that your experience is optimal at all times.

Your Retirement Resources


With our ever-growing library of educational guides and materials, you can always find new ways to improve your financial security and make the most of your retirement.

Check back often for the latest resources to help you make informed decisions now and in the future. 

Stay in the know with this month's edition of RMF's newsletter — Reverse Insider


Maximize your Social Security benefits in 2022 and beyond with our expert guide

Discover how you can buy the home of your dreams with a reverse mortgage


A simple guide for all of your family's questions about your reverse mortgage

Your Reliable Source for Retirement News

Our Retirement News blog is dedicated to your financial and physical health and well-being. 
Whether you're already in or nearing retirement, you will find important, topical information in the blog to help you on your road to retiring more freely.


Preparing for the Inevitable: What Your Heirs Need to Know About a Reverse Mortgage
Retirement Planning, Retirement Tips

Preparing for the Inevitable: What Your Heirs Need to Know About a Reverse Mortgage

When you take out a reverse mortgage loan, there’s a good chance you intend to live in that home for life. But what happens next?

If your surviving spouse is a co-borrower or qualified non-borrowing spouse, he or she can continue to live in the home for their lifetime. But eventually, the time will come when your heirs will be left to settle the loan, and they should know your plans and have the resources they need to put those plans into action. That’s why it’s so important to keep them in the loop now, leaving no questions unanswered.

Here’s a quick overview of what to discuss, so you’re all on the same page:

An heir’s rights and legal obligations

When a reverse mortgage loan holder passes away, the loan becomes due and payable. A loan servicer will mail a notice including the current balance owed, payback options and a timeline for responding. The loan servicer can initiate foreclosure as required by federal regulation if the notice is not responded to within 30 days.

While payment is due immediately, your estate may have up to 12 months (an initial six-month period, plus two ninety-day extensions) to satisfy the debt if all requirements and criteria for loss mitigation postponements are satisfied by a legal representative of the estate. But remember, it’s in your heirs’ best interests to pay it off as quickly as possible. Interest on the balance, as well as monthly insurance premiums, will continue to accrue until the loan is settled.

If your heirs are actively working to sell or refinance the property beyond the due date, they are entitled to request two ninety-day extensions beyond the initial six-month period to attempt to satisfy the loan. Extensions require specific documentation be submitted to HUD to substantiate the request and are not guaranteed. The loan servicer can assist your heirs in this process.

Heirs may also sell the property or purchase it for 95% of the appraised amount. Because reverse mortgages are nonrecourse loans, when the home is sold, your heirs will not owe more than the current appraised value.

For example, if the appraised value of the property is $450,000, and the loan balance is $500,000 at the time of the sale, they are only obligated to pay off no more than $450,000.

Planning is key

Just as you want to talk over your plans with your heirs for when the loan is due and payable, you should also work closely with your servicer to communicate your intentions regarding your home and how your estate plans to handle the mortgage whenever the time comes. When everyone is aware of your wishes, they can work together to ensure they are carried out.

Reverse Mortgage Funding, LLC (RMF) has assisted thousands of Americans in leveraging the power of their home equity as a powerful financial tool. To find out how a reverse mortgage can help you free up funds for a comfortable retirement, call 888-277-1567 today. An experienced reverse mortgage specialist will set up with a convenient in-person appointment in your area.

This content is sponsored by RMF, one of the nation’s leading reverse mortgage lenders. We are dedicated to helping older Americans retire more freely, in the comfort of their own homes. As a result of our commitment to providing an extraordinary and positive customer experience, we have earned a 98% customer satisfaction rating; a 5-star / Excellent score on Trustpilot; 4.8 out of 5 stars on LendingTree; and an A+ rating with the Better Business Bureau. Call 888-277-1567 to speak with a licensed reverse mortgage specialist to learn about our retirement financing products and solutions.


If you have equity in your home and believe you meet the eligibility requirements, a HECM may be the option that could help you retire smart.

Check Eligibility



Subscribe to Our Retirement News Blog

Join our mailing list to get the latest in lifestyle content, financial advice, news and information delivered right to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Together We Can Make a Difference

RMF is proud to be a part of the inaugural Momentum Circle to support Meals on Wheels America’s efforts to lead its national network of local programs committed to combating the real issues of senior isolation and hunger.

Even before COVID-19 emerged as a worldwide threat, nearly 10 million seniors in America struggled with hunger, 8 million lived in isolation, and more than 7 million had incomes below the poverty line.


Meals on Wheels America is the leadership organization supporting the more than 5,000 community-based programs across the country that are dedicated to addressing senior isolation and hunger. 

This network serves virtually every community in America and, along with more than two million staff and volunteers, delivers the nutritious meals, friendly visits, and safety checks that enable America’s seniors to live nourished lives with independence and dignity.


To learn more about how you can get involved in your local Meals on Wheels America programs or to make a donation, please visit

Chat with us