You won’t have any equity left in your home to leave for your heirs.

TRUTH: This is not necessarily true. Depending on several factors, you may still be able to pass on money to your heirs. Don’t forget that your property will continue to appreciate over the long term. Upon passing away, if the amount you owe is less than your property value, your heirs will inherit the difference. Your heirs could also choose to pay off the reverse mortgage with a traditional mortgage (or personal funds) and keep your home.