Not only does this limit how much cash can be accessed, homeowners with larger mortgage balances may not qualify for the loans any more since you need to be able to payoff all existing mortgages when getting a reverse mortgage. (newretirement.com)
However, if you are your family's primary earner, have multiple children to send to college, or a large mortgage balance, you may need a larger death benefit to ensure your family can cover all their obligations without your income. (valuepenguin.com)
While this all sounds like good news, you'll be stuck with a larger mortgage balance and a fresh 30 - year term on your mortgage. (thetruthaboutmortgage.com)