If you have a reverse mortgage, selling might feel complicated—but it’s simpler than you think. I’m Dennis Loewen with North and Main Homes, and here’s how to handle it the right way.
How It Works
When you sell, the reverse mortgage balance (plus interest) is paid off from sale proceeds—just like a normal loan.
Key Step: Request a Payoff Quote
Ask your lender for a current balance so you know your numbers before listing.
If the Value Is Lower
Reverse mortgages are non-recourse loans, meaning if your home sells for less than you owe, the lender can’t pursue you for the difference.
🎥 Watch the full video here: https://youtu.be/Wj9FXz_um0Y?si=hF9tr7oJgLYe_LXb
With the right prep, a reverse-mortgaged home can sell easily. For guidance specific to San Jose, reach out to Dennis Loewen with North and Main Homes.
