 Companies would generally be allowed to move ahead with foreclosure only after all possibilities to help have been exhausted. For the Fox Business Network, I'm Jack Callahan. There are plenty of myths going around about reverse mortgages. You can't keep your home in a living trust, the bank owns your home when you're gone, etc. Those are all false. I am Patty Wood with American Pacific Mortgage, your local reverse mortgage specialist. I'm here to answer all of your questions about reverse mortgages.