YES! FHA guarantees that the borrower can never owe more than the home is worth at the time it is sold.
This is a non-recourse loan!
This is one of the most powerful aspects of a reverse mortgage. FHA Guarantees that neither the borrower nor the heirs will owe more than the home is worth at the time it is sold.
Over time, the loan balance of a reverse mortgage will rise if you choose not to make a payment. It’s flexible: you can pay down the loan entirely or partially or not all while you occupy the home. The lender only has your property as security for their loan. They have no other way to obtain repayment of the principal, interest, and mortgage insurance fees in the event something happens and your home is not worth enough to pay off all the entire obligation. There is no recourse to the estate. However, when the loan is due and payable and there is EQUITY left in the estate that EQUITY belongs to the estate, not to the lender.