Will I Have Anything to Leave my Children?

Truth: A reverse mortgage doesn’t mean your children will be left with nothing — in fact, many families still pass on significant equity. Plus, it can ease financial burdens while you’re still living, which many children deeply value.

With a reverse mortgage — specifically an FHA-insured HECM — you’re tapping into a portion of your home’s equity to use while you’re living. That equity becomes a loan that is repaid only when the home is sold or no longer your primary residence.

Whatever is left over after the loan is repaid still belongs to your heirs. And thanks to a key protection built into all HECM loans — called the non-recourse feature — your heirs will never owe more than the home is worth, even if the loan balance exceeds the value of the property.

What this means for your children:

• If your home is worth more than what’s owed, your children inherit the remaining equity

• Your heirs can choose to keep the home, sell it, or walk away — they’re in control

• The reverse mortgage can help avoid the need to liquidate retirement accounts or rely on your kids financially while you’re still living

• You may actually be leaving them less debt and more peace of mind by funding your own care, expenses, or aging-in-place needs

Many adult children say they’d rather see their parents live comfortably, safely, and independently in their later years — even if that means inheriting a little less. For families, a reverse mortgage is often less about giving up an inheritance and more about preserving quality of life for everyone involved.

Getting a reverse mortgage doesn’t mean you’re leaving your children with nothing — it means you’re using the wealth you’ve built to live on your terms now. And in many cases, there’s still equity left over to pass on. The legacy you leave isn’t just in dollars — it’s in dignity, security, and the memories you build at home.

Learn more about eligibility requirements for a reverse mortgage, situations where a reverse mortgage is best used, and common myths around reverse mortgage that we debunk with facts