Question 1

Can I lose my home with a reverse mortgage?

Accepted Answer

Yes — if you fail to pay property taxes or insurance, or stop living there as your primary home. Staying current on both protects you.

Question 2

How much equity can I access in Mariposa?

Accepted Answer

It depends on your age, your home's appraised value, and current rates. Older borrowers with more equity generally receive more.

Question 3

Do I need counseling before getting a HECM?

Accepted Answer

Yes. HUD requires independent counseling before any HECM closes. It's a mandatory step, not optional.

Question 4

Can I leave my Mariposa home to my heirs?

Accepted Answer

Yes. Heirs can repay the loan and keep the home. They can also sell the property and keep any remaining equity.

Question 5

Does a reverse mortgage affect Social Security or Medicare?

Accepted Answer

Generally no — reverse mortgage proceeds are not taxable income. But Medicaid eligibility can be affected if funds aren't spent quickly.

Reverse Mortgages in Mariposa, CA