Leaving Your Home for 12+ Months on a Reverse Mortgage
Primary residence rule
You must live in the home as your primary residence. Extended absence (typically 12 consecutive months) can trigger loan due and payable status.
Common scenarios
- Long-term nursing home stay
- Moving in with adult children in another state
- Extended travel or second-home confusion
Non-borrowing spouse
Protections exist for eligible non-borrowing spouses if properly disclosed at origination. Rules are complex; get counseling and legal advice.
When this is NOT a good fit
- You cannot reliably pay property taxes, homeowners insurance, and maintenance
- You plan to move within a few years
- You need every dollar of home equity preserved for heirs
- Medicaid or SSI eligibility depends on keeping assets below program limits (consult an elder law attorney)
- You were pressured by a salesperson without time to research alternatives