Question 1

Can the bank take my Tiburon home with a reverse mortgage?

Accepted Answer

No, as long as you live there, pay property taxes, maintain insurance, and keep the home in good condition. You retain ownership and can stay indefinitely.

Question 2

What happens if I outlive the loan proceeds?

Accepted Answer

You never owe more than your home's value. You can stay in the home even after funds run out, with no monthly payments required.

Question 3

Will my heirs inherit debt?

Accepted Answer

Heirs can pay off the loan balance and keep the home, or sell it and keep any remaining equity. They're never personally liable beyond the home's value.

Question 4

Do I need good credit for a reverse mortgage?

Accepted Answer

Credit matters less than your ability to pay property taxes and insurance. We assess financial capacity, not credit score primarily.

Question 5

Can I get a reverse mortgage on a Tiburon condo?

Accepted Answer

Yes, if the condo project is FHA-approved. Not all developments qualify. We verify eligibility before starting the application process.

Question 6

How much can I borrow on my Tiburon home?

Accepted Answer

It depends on age, home value, and current rates. Older borrowers and higher home values mean larger loan amounts available.

Reverse Mortgages in Tiburon: Unlock Your Home Equity Without Selling