Question 1

Can I lose my Oakland home with a reverse mortgage?

Accepted Answer

Yes, if you stop paying property taxes, insurance, or vacate as your primary residence. Staying current on those keeps the loan in good standing.

Question 2

What happens when I pass away?

Accepted Answer

Your heirs can sell the home to repay the loan or refinance it. The loan balance can never exceed the home's sale value — FHA insurance covers any shortfall.

Question 3

Does Oakland home value affect how much I can borrow?

Accepted Answer

Yes. Higher appraised value generally means more available proceeds, up to FHA's HECM lending limit. Jumbo reverse products can go beyond that cap.

Question 4

Is HUD counseling required in California?

Accepted Answer

Yes. Federal law requires independent HUD-approved counseling before any HECM closes. It's not optional, and it's not provided by your lender.

Question 5

How do rising interest rates affect my reverse mortgage?

Accepted Answer

Higher rates lower your initial loan proceeds. As of March 2026, rates have ticked up, so locking in sooner may preserve more borrowing power.

Reverse Mortgages in Oakland: Turn Equity Into Income