Question 1

Do I have to pay taxes or insurance?

Accepted Answer

Yes. You still own the home. Property taxes, homeowner's insurance, and basic maintenance remain your responsibility.

Question 2

Can I lose my home with a reverse mortgage?

Accepted Answer

You can if you stop paying taxes or insurance, or if the home is no longer your primary residence. Staying compliant protects you.

Question 3

How much can I borrow in Marina?

Accepted Answer

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

Question 4

What happens when I pass away?

Accepted Answer

Your heirs can sell the home to repay the loan or refinance into a conventional loan to keep it. They are never personally liable for any shortfall.

Question 5

Is reverse mortgage interest tax deductible?

Accepted Answer

Generally not until the loan is repaid. Talk to your tax advisor — this varies by situation.

Question 6

Can my spouse stay if I pass away first?

Accepted Answer

Yes, if your spouse is also listed as a borrower. Non-borrowing spouses have some protections too — ask us about the details.

Reverse Mortgages in Marina, CA — Turn Equity Into Income