Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You keep title to your home. The lender places a lien, but you remain the owner as long as you live there.

Question 2

What happens when I move out or pass away?

Accepted Answer

The loan becomes due. Your heirs can sell the home, repay the balance, or refinance to keep it.

Question 3

Can I get a reverse mortgage if I still have a mortgage?

Accepted Answer

Yes, but the reverse mortgage must pay off your existing loan first. Remaining equity is then available to you.

Question 4

Is HUD counseling really required in Gustine?

Accepted Answer

Yes, it's required for all HECM borrowers nationwide. It can be done by phone — no need to travel.

Question 5

How much can I borrow against my Gustine home?

Accepted Answer

It depends on your age, home value, and current interest rates. Older borrowers with more equity access more funds.

Question 6

Are reverse mortgage proceeds taxable?

Accepted Answer

Generally no — loan proceeds are not considered income. Consult a tax advisor for your specific situation.

Reverse Mortgages in Gustine, CA — Turn Equity Into Income