Non-recourse loan | Reverse Mortgage Glossary
Non-recourse loan
You never owe more than the home value when the HECM is repaid; FHA insurance covers the lender shortfall.
Plain English
You never owe more than the home value when the HECM is repaid; FHA insurance covers the lender shortfall.
Everyday analogy
Think of this as one piece of a loan puzzle. See our complete glossary or what is a reverse mortgage guide for context.
When this is NOT a good fit
Understanding terms does not mean a reverse mortgage is right for you. Review our eligibility and foreclosure guides before deciding.