Question 1

Can I lose my Sand City home with a reverse mortgage?

Accepted Answer

You keep the home as long as you live there, pay taxes and insurance, and maintain the property. The loan becomes due when you sell, move, or pass away.

Question 2

How much equity can I access in Sand City?

Accepted Answer

The amount depends on your age, home value, and interest rates. Older borrowers and higher home values yield larger loan proceeds.

Question 3

Do reverse mortgages require monthly payments?

Accepted Answer

No monthly mortgage payments are required. You must still pay property taxes, insurance, and home maintenance costs throughout the loan term.

Question 4

What happens to my home when I die?

Accepted Answer

Heirs can repay the loan and keep the home, or sell it and keep any remaining equity. The lender never takes more than the home's value.

Question 5

Can I get a reverse mortgage on a Sand City condo?

Accepted Answer

Yes, but the condo complex must be FHA-approved. We verify approval status before you apply to avoid wasted time.

Reverse Mortgages in Sand City: Turn Home Equity Into Retirement Income