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Can a Family Member Take Over a Reverse Mortgage? Understanding Your Options

According to the National Reverse Mortgage Lenders Association (NRMLA), over 1.2 million homeowners have utilized a reverse mortgage since 1990. When a reverse mortgage borrower passes away or permanently moves out, the loan typically becomes due and payable. This raises a crucial question for many families: **Can a family member take over a reverse mortgage?** The answer is nuanced, depending on several factors, including the family member's relationship to the borrower and their financial capacity.