Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You keep the title. The lender places a lien on the property, just like a regular mortgage.

Question 2

What happens when I pass away or move out?

Accepted Answer

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

Question 3

Can I get a reverse mortgage on a condo in Atwater?

Accepted Answer

Sometimes. FHA-backed HECMs require the condo project to be FHA-approved. We check eligibility upfront.

Question 4

Will a reverse mortgage affect my Social Security or Medicare?

Accepted Answer

Generally no. Reverse mortgage proceeds are not counted as income. Consult a tax advisor to confirm your situation.

Question 5

How much can I borrow against my Atwater home?

Accepted Answer

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

Question 6

Is the HUD counseling session free?

Accepted Answer

There is typically a small fee, though it may be waived if you have limited income. Ask your counselor upfront.

Reverse Mortgages in Atwater, CA — Turn Equity Into Income