Temecula Reverse Mortgage Question - How long does a reverse mortgage last? 
There is a due date on HECM reverse mortgages and it is always set at 150 years from the date of birth of the youngest borrower. However in real world use, we find that the reverse mortgage becomes “Due and Payable” upon certain events. Those events are:
Failure to maintain the home in good condition.
Failure to pay property taxes or insurance on the home.
Failure to live in the home as your primary residence.
As long as you continue to live in the home, maintain the home and keep the taxes and insurance current, the reverse mortgage will stay in place no matter your age - and borrowers who chose to receive their loan proceeds as tenure payments can rely upon those payments to continue month after month until one of the “due events”.
There is a due date on HECM reverse mortgages and it is always set at 150 years from the date of birth of the youngest borrower. However in real world use, we find that the reverse mortgage becomes “Due and Payable” upon certain events. Those events are:
Failure to maintain the home in good condition.
Failure to pay property taxes or insurance on the home.
Failure to live in the home as your primary residence.
As long as you continue to live in the home, maintain the home and keep the taxes and insurance current, the reverse mortgage will stay in place no matter your age - and borrowers who chose to receive their loan proceeds as tenure payments can rely upon those payments to continue month after month until one of the “due events”.
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