If you have a small balance on your existing mortgage and would like to pay it off with the reverse mortgage (foundationmortgage.com)
The heirs can purchase the home for the lesser of the reverse mortgage balance or 95 % of its current appraised value. (reversemortgages.com)
If you have passed on and your heirs have chosen to sell the home, they will have to pay off the reverse mortgage balance out of the sale proceeds. (reversemortgageoregon.com)