What are some common misunderstandings about a reverse mortgage?

Myth: The lender can throw me out of my house.
Fact: You can stay in your home as long as you like.

Myth: My kids won't like the idea.
Fact: That was true for a long time. That has turned around with experience and education, heirs are now typically in favor of reverse mortgages. Many kids are championing the idea and are assisting their parents and grandparents with the process.

Myth: The lender gets the house in the end.
Fact: This is the most common misconception. The title remains in the name of the borrower. This is merely a loan against the property, and the lender is only repayed the loan balance.