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Common questions

Reverse mortgages and family planning

Answers for homeowners and families weighing a reverse mortgage.

Last reviewed: October 18, 2026 · General education, not a loan offer or approval. Availability and terms depend on the lender, the property and your file.

Do I still own my home with a HECM?

Yes. You keep the title, and the reverse mortgage is secured by the home. You must keep living there as your main home, pay property taxes and insurance, maintain the home and meet the other loan terms, so understand those obligations before focusing on how much money you can get.

What happens if I move out?

A HECM requires the home to be your principal residence, so moving out can make the loan due. Some temporary absences have their own rules. Contact your servicer before a planned move or a long care stay, and don't assume the loan stays the same.

Can my spouse stay after I die?

A co-borrower or an eligible non-borrowing spouse may have protections under HECM rules, but the conditions differ. The specific loan, key dates, marital status and meeting the loan terms all matter. Ask the servicer or a HECM counselor to review your situation rather than relying on a general promise.

Can my heirs keep the home?

With a HECM, heirs who want to keep the home generally need to arrange repayment within the rules and deadlines that apply. HECM rules can limit the amount they need to repay. Have the servicer explain the specific payoff options; private reverse mortgages may work differently.

Is a HECM line of credit the same as a HELOC?

No. Eligibility, borrowing rules, required payments, costs and what makes the loan due are different. Compare the actual illustrations and obligations instead of assuming two products with "line of credit" in the name work the same way.

Can reverse-mortgage proceeds affect taxes or benefits?

It depends on your situation and the benefit program involved. Have a tax or benefits professional review it before you decide. If it helps, Marcus can introduce you to someone, with your permission.

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Marcus Wright
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Marcus Wright · Loan Officer, NMLS #2789841

Originates through Q Mortgage LLC, NMLS #2567464. Licensed in Texas.

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