<prompt> Human: Today I found out that my grandma has a reverse mortgage on her house, and that the house will become property of the bank when she dies. She is reasonably healthy and I expect her to live another 5-10 years, but Id very much prefer to keep the house in the family once she does go my grandpa, since deceased, personally built parts of the house and its where my mum and her siblings grew up. What are my options here? I wouldnt be opposed to buying the house back and living there, but I have no idea how any of this works. If its relevant, I am the only member of my family that doesnt currently own a house, so no one else in my family would be interested in owning it.  <response>: Need to understand that a Reverse Mortgage is a Reverse Mortgage Loan. each month the originator sends a check to the homeowner think of it as a loan you get the money a little at a time instead of all at once. When the borrower dies and the house as well as loan enter into probate the estate either pays it off and keeps the house or sell the house and pays off the loan.One can intercede in this step, meaning go out and borrow the money and buy the house from the estate. One issue with an estate is if more than one heir the executor must ensure that all is done with out advantage to any one heir so they often they will require an appraisal to set an equitable price.If reverse mortgage loan is underwater you might be better just to buy it outright through a real estate agent so the Loan company cannot claim preferential treatment towards an interested party. 