Reverse mortgage to get inheritance

Hello everyone, I would like to get feedback regarding my parent’s situation. They are both 65 years old and they plan to get a reverse mortgage on their home. They have a 780 credit score and own their home and cars outright. They don’t have credit card debt and they get SS checks regularly. They have more than enough money for healthcare and the only reason they are thinking about this loan is to split the money between me and my siblings right now and not 10 or 20 years from now. They know that we could use the money now and not wait until they pass away to enjoy our inheritance. They also plan to live in their home until they pass and have no plans of moving out. Our only concerns are will the bank get the house if the borrower dies? Who pays the mortgage after their death? by engelen597 from Alameda, California. Nov 22nd 2021 Reply