Reverse mortgage loan

Dear All the respected Lawyers

Here is my case please...

My cousin's mother who is having two married daughters is planning to take Reverse Mortgage Loan from a Nationalized Bank.

During the process of Reverse Mortgage Loan, the bank officials asked for 'RELINQUISH Deed' from the legal heirs (in our case....her two daughters) for sanctioning Reverse Mortgage Loan.

I understand 'RELINQUISH Deed' is a deed stating that they have no rights on the property of her mother and they are even willing to do so.  My question to the Lawyers is... if unfortunately, their mother dies during the tenure of 'Reverse Mortgage Loan'..Since already  two daughters submitted 'RELINQUISH Deed's..What is the step that Bank officials take to recover the outstanding loan. In other case, naturally they will offer two options to legal heirs viz,

1. Are legal heirs willing to clear the outstanding amount and take back the Documents kept.

2. If they are not willing to clear the outstanding they will go for Auction of the property and from the amount such realized the outstanding Loan amount will be deducted and distribute the remaining sale amount in equal parts to the Legal heirs.

 In above stated our case, I would like to know what step Bank officials will take after the death of their mother during Loan tenure.

Also please suggest whether to go for such 'Reverse Mortgage Loan'

thanks in advance