Tennessee · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Tenn. Code Ann. § 47-30-118: Fannie Mae Reverse Mortgage Loans

(a) When a Fannie Mae Reverse Mortgage Loan becomes due, the amount owed by the borrower shall not be greater than: (1) The fair market value of the house; or (2) The outstanding balance of the loan, including any equity share, if applicable under the terms of the contract, whichever is less. (b) The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower. Acts 1997 , ch. 286, § 8.
(a) When a Fannie Mae Reverse Mortgage Loan becomes due, the amount owed by the borrower shall not be greater than: (1) The fair market value of the house; or (2) The outstanding balance of the loan, including any equity share, if applicable under the terms of the contract, whichever is less.
(1) The fair market value of the house; or
(2) The outstanding balance of the loan, including any equity share, if applicable under the terms of the contract, whichever is less.
whichever is less.
(b) The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower.

Where this section sits in the code

TN Code
Title 47
Chapter 30

(1) The fair market value of the house; or

(2) The outstanding balance of the loan, including any equity share, if applicable under the terms of the contract, whichever is less.

whichever is less.

(b) The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower.

Collected 2026-09-14T18:32:26Z. Source file · JSON

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