I understand about reverse mortgage concept . But the newspaper mentioned
"A consequence of this is that your heirs cannot expect to receive the worth of the house"

If the mortgage was $50,000 but when you died the house was worth $100,000. Does
The bank get the house, or just their $50,000 loan??

When you sell your home or no longer use it for your primary residence, you or your estate will repay the cash you received from the reverse mortgage, plus interest and other fees, to the lender. The remaining equity in your home, if any, belongs to you or to your heirs. None of your other assets will be affected by a reverse mortgage loan. This debt will never be passed along to the estate or heirs

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Originally Posted by Oneill474

I understand about reverse mortgage concept . But the newspaper mentioned
"A consequence of this is that your heirs cannot expect to receive the worth of the house"

If the mortgage was $50,000 but when you died the house was worth $100,000. does
the bank get the house, or just their $50,000 loan???

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The bank/lender is only interested in getting the $ they lent you back - they are NOT interested in owning or taking your home.
In the example you gave, if the house was sold for $100,000, the bank would be repaid their $50,000 loan balance and the HEIRS would get the difference = $50,000.
One highlight of a reverse mortgage is that it is a "non-recourse loan" - meaning the lender can only obtain satisfaction of their loan from the proceeds of the house.
As a matter of fact, if the LOAN BALANCE was $100,000, and for some reason the HOME VALUE was $50,000, the borrower and/or the heirs WOULD NOT be liable for the $50,000 shortfall!
Regards
Mortgage Maven