Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You remain on title. The lender places a lien, not ownership.

Question 2

What happens when I move out or pass away?

Accepted Answer

The loan becomes due. Heirs can sell the home or refinance to pay it off.

Question 3

Can a surviving spouse stay in the home?

Accepted Answer

Eligible non-borrowing spouses have protections under current FHA rules. Talk to us before closing to structure this correctly.

Question 4

How much can I borrow against my Novato home?

Accepted Answer

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

Question 5

Is reverse mortgage income taxable?

Accepted Answer

No. Proceeds are loan advances, not income. Consult a tax advisor for your specific situation.

Question 6

What if my home value drops below the loan balance?

Accepted Answer

FHA insurance covers the difference. You or your heirs never owe more than the home sells for.

Reverse Mortgages in Novato, CA — Turn Equity Into Income