How will a reverse mortgage impact my spouse?

To obtain a reverse mortgage, all borrowers must be listed on the deed to the home and be at least 62 years old. If married, both a husband and wife will have to be on the loan application. Assuming both spouses are borrowers on the reverse mortgage, if one borrower predeceases the other, there is no effect on the reverse mortgage and all terms remain the same for the surviving spouse. Only when all borrowers permanently leave the home does the mortgage become due.