Question 1

Do I have to make monthly payments on a reverse mortgage?

Accepted Answer

No monthly payments are required. The loan balance grows over time and is repaid when you sell, move out, or pass away.

Question 2

Can I lose my home with a reverse mortgage?

Accepted Answer

Yes — if you stop paying property taxes or homeowners insurance. Those obligations remain yours throughout the loan.

Question 3

How much can I borrow in Lemoore?

Accepted Answer

It depends on your age, appraised home value, and current rates. Older borrowers with more equity generally qualify for more. Rates vary by borrower profile and market conditions.

Question 4

Does my spouse need to be 62 to qualify?

Accepted Answer

No. A non-borrowing spouse can be listed for protections even if under 62. Talk to us about eligible non-borrowing spouse rules before applying.

Question 5

What happens to my heirs when I pass away?

Accepted Answer

Heirs can repay the loan balance and keep the home. Or they can sell the home and keep any remaining equity after payoff.

Question 6

Is HUD counseling really required in California?

Accepted Answer

Yes, it's a federal requirement — not optional. You must complete it with a HUD-approved counselor before your loan can close.

Reverse Mortgages in Lemoore, CA — Turn Equity Into Income