Gwynn Oak, MD asked in Foreclosure and Real Estate Law for Maryland

Q: My mother died with a reverse mortgage and deed her home to me and my brothers. Are we responsible for the mortgage?

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3 Lawyer Answers
Richard Sternberg
Richard Sternberg
Answered
  • Potomac, MD
  • Licensed in Maryland

A: I thought I answered this a few hours ago. The law had not changed since 5:00 pm as far as I know.

Richard Sternberg
Richard Sternberg
Answered
  • Potomac, MD
  • Licensed in Maryland

A: I thought I answered this a few hours ago. The law had not changed since 5:00 pm as far as I know.

Cedulie Renee Laumann
Cedulie Renee Laumann
Answered
  • Crownsville, MD
  • Licensed in Maryland

A: Generally a reverse mortgage operates as a lien against the property, meaning that the lender needs to get paid when the house sells/transfers. If the loan is not paid off after the original owner(s) die, the lender has a right to take over and foreclose or sell the property. Heirs should not have any personal liability or responsibility to pay out of their own pockets unless they signed the loan or attempted to transfer the property without paying off the loan.

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