What happens if the borrower(s) outlive the loan? Will they have to repay the lender?

October 27, 2015 2:27 pm Published by megancummings Comments Off

Not until the last borrower stops using the property as their primary residence. As long as at least one borrower lives in the home and keeps up to date on property taxes, insurance and maintenance, the loan will not have to be repaid.

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