Home » Resources » Frequently Asked Questions » What Is A Maturity Event In Reverse Mortgages

Frequently Asked Questions

 
You must be logged in to perform that action.
You cannot vote on your own questions/answers.

Please choose a login method!
X
« All Questions 8 years ago
What is a maturity event in reverse mortgages?
Moderator SeniorCaring
0
1 answer
Moderator SeniorCaring
0

A maturity event is when the repayment of the loan is due. This occurs when:

  • The borrower passes away
  • The borrower sells their home
  • The borrower’s home is no longer the primary residence
  • The borrower does not maintain the property for a minimum of 12 months (possibly due to physical or mental illness)
  • The borrower fails to pay for property taxes and/or insurance
  • The borrower fails or is unable to fix any necessary property damages
Tags
RESOURCES SITEMAP TERMS OF SERVICE PRIVACY
© 2024 SeniorCaring.com All Rights Reserved.