A new fix for reverse mortgages A new rule on reverse mortgage loans made after August 4, 2014 will protect younger spouses. Before this rule went into effect a man old enough to quality for the reverse with a wife, for example 10 years younger, would have a problem. If the husband died or left, the wife would have to pay off the loan, most likely by selling the house. Under the new rule, younger spouses can stay in the home as long as they want to if it is their primary residence and they pay the property taxes, hazard and mortgage insurance and the cost of maintaining the property. The new rule comes at a cost. Previously, it was the age of the qualifying older spouse that determined what the payout would be. Now, lenders will factor in the age of the younger spouse when calculating the reverse mortgage payout. The younger spouse and the longer loan will mean a smaller payout. You can get a rough estimate of how much of a reverse mortgage you'd qualify for with the calculator at www.reversemortgage.org.