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Who is responsible for upkeep on the home on a Home Equity Conversion Mortgage (HECM)?

The homeowner is responsible for the upkeep of the home on a HECM. The homeowner continues to bear all the responsibilities of a homeowner, including making repairs and paying taxes and insurance.

In a reverse mortgage, there is no regulatory requirement for an escrow account for payment of taxes and insurance. If you fail to maintain the home, or pay property taxes or hazard insurance, the bank could foreclose on your house.

Learn more from the Department of Housing and Urban Development's HECM page.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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