death-of-borrower
death-of-borrower
When the last borrower dies, the loan becomes due and heirs choose payoff options.
What it is: When the last borrower dies, the loan becomes due and heirs choose payoff options.
Everyday analogy: Think of it like a financial term explained at the kitchen table, not in a bank brochure.
How it applies to you: See linked learn guides for how this affects reverse mortgage decisions.