[SoldierDad]

I do not really understand how a reverse mortgage works. It seems to me a real nice way for seniors to have their homes stolen out from under them (and their descendants).

[nufsed]

Home is not stolen. The max you can borrow is based upon the regulation limits, your equity and the value of the house. When you die the heirs will owe the part the bank paid you. Doesn't mean the bank owns the house. The heirs can pay of the bank and keep the house, refi it, or sell it and split the net proceeds.

The senior taking the mortgage has to decide if they need the money more than they want to leave it behind. They may not have much choice.

Other options, the family supports the person and they stay in the house, no reverse mortgage.

Move to senior facility under medicaid (good luck).

If the individual is capable, they make the decision. Couples generally want to stay in their house. After the death of one, it's a coin toss.

[longtermmemmory]

you are selling your house to the mortgage company and selling your right of leaving the house to your heirs.

It is just a bad idea.