Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You remain on title and own the home. The lender holds a lien, same as any mortgage.

Question 2

What happens when I pass away or move out?

Accepted Answer

The loan becomes due. Heirs can sell, refinance, or repay the balance. Any remaining equity belongs to your estate.

Question 3

Can my spouse stay if I pass away first?

Accepted Answer

If your spouse is also on the loan, yes. Non-borrowing spouses have protections — but terms vary. Ask us before closing.

Question 4

Is Angels Camp property eligible for a HECM?

Accepted Answer

Most single-family homes qualify if they meet FHA standards. Rural features like wells or septic need inspection first.

Question 5

How much equity can I access?

Accepted Answer

It depends on your age, home value, and current rates. Older borrowers and lower rates generally mean more available equity.

Question 6

Do I have to take the money all at once?

Accepted Answer

No. You can take a lump sum, monthly payments, a credit line, or a combination. Most borrowers choose the credit line option.

Reverse Mortgages in Angels Camp, CA