Quote:
Originally Posted by old moe
 Be careful, if you want to leave your home to anyone after you pass, they will have to pay back all the income you received and then some. There are many hidden rules " Fonz" never tells you about on T.V. Do research,carefully!  |
This is true. If the heirs decide to sell the house to pay off the balance they have 6 months to do so. If the house does not sell in that time frame and the loan not repaid the house automatically goes back to the bank.