Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You remain on title and own the home. The lender places a lien, just like a regular mortgage.

Question 2

What happens when I pass away or move out?

Accepted Answer

The loan becomes due. Heirs can sell the home, pay off the balance, or refinance. They keep any remaining equity.

Question 3

Can I get a reverse mortgage on a manufactured home in Merced County?

Accepted Answer

Some manufactured homes qualify under FHA guidelines. The home must meet HUD standards and be on a permanent foundation.

Question 4

How do I receive the money?

Accepted Answer

You choose — lump sum, monthly payments, a line of credit, or a combination. The line of credit option grows over time.

Question 5

Does a reverse mortgage affect my Social Security or Medicare?

Accepted Answer

Generally no. Reverse mortgage proceeds are loan funds, not income. Consult a benefits advisor for Medi-Cal questions.

Question 6

What is HUD counseling and is it really required?

Accepted Answer

Yes, it's required. A HUD-approved counselor walks you through costs, risks, and alternatives before you can close.

Reverse Mortgages in Livingston, CA — Turn Equity Into Income