- When a Fannie Mae Reverse Mortgage Loan becomes due, the amount owed by the borrower shall not be greater than:
- The fair market value of the house; or
- The outstanding balance of the loan, including any equity share, if applicable under the terms of the contract,
whichever is less.
- The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower.