[CottonBall]

Because most RM's are gummint insured the kids can never owe more than the house is worth when the folks are gone.

Can you explain how that works? Why would the kids owe anything if the mortgage company then owns the house?

[RVN Airplane Driver]

Because most RM's are gummint insured the kids can never owe more than the house is worth when the folks are gone. Can you explain how that works? Why would the kids owe anything if the mortgage company then owns the house?

That is a common myth about RM's....the mortgage company never owns the home...your name remains on the deed...when you pass the estate (kids) merely need to pay off what is owned against the home and they keep the rest..no different that a conventional mortgage.