Question 1

Do I lose ownership of my home with a reverse mortgage?

Accepted Answer

No. You keep the title. The loan is repaid when you sell, move out, or pass away.

Question 2

What happens if I outlive the loan?

Accepted Answer

You cannot be forced out as long as you live there and maintain the home, taxes, and insurance.

Question 3

Can I get a reverse mortgage if I still have a regular mortgage?

Accepted Answer

Yes. The reverse mortgage must pay off your existing mortgage first. Remaining funds go to you.

Question 4

Is HUD counseling really required in California?

Accepted Answer

Yes. Federal law requires independent HUD-approved counseling before any HECM closes.

Question 5

How do I receive the funds from a reverse mortgage?

Accepted Answer

You choose — lump sum, monthly payments, a line of credit, or a combination of all three.

Reverse Mortgages in Wasco, CA — Turn Equity Into Income