Reverse mortgages and older homeowners in Texas

Older homeowners and reverse mortgages

A Texas reverse mortgage (borrower or spouse 62+) is non-recourse, but it can still come due if taxes or insurance go unpaid, the borrower moves out, or the last borrower dies. Foreclosure of a reverse mortgage that requires a court order follows the expedited court rules.

• Unpaid property taxes or insurance are the most common trigger — ask the servicer about a repayment plan right away.
• Texas property-tax deferral may be available for homeowners 65+ or disabled — see Tax help.
• Heirs usually have options to pay off, sell, or give up the home; ask the servicer for the timeline in writing.

Tex. Const. art. XVI, § 50(k) · Tex. Const. art. XVI, § 50(r)