No. A reverse mortgage is what is called a non-recourse loan. This means the bank can never come after any person or estate for repayment of the loan. The bank can only use the value of the home as repayment. Your children may, however, either sell your home or take out a new mortgage, after you leave your home, in order to receive the equity still in the home. Most Reverse Loans typically allow your heirs six months to a year to pay off the Reverse Mortgage through a sale or re-mortgage.