Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You keep title and stay on the deed. 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. Your heirs can sell the home, pay off the balance, or refinance to keep it.

Question 3

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

Accepted Answer

Yes. Your existing mortgage pays off at closing. You just need enough equity to cover it.

Question 4

Is reverse mortgage income taxable in California?

Accepted Answer

Generally no — loan proceeds aren't income. Consult a tax advisor for your specific situation.

Question 5

What's the HECM lending limit for Napa County?

Accepted Answer

The federal HECM limit applies nationwide. If your home is worth more, a proprietary jumbo product may fit better.

Question 6

Can I lose my home with a reverse mortgage?

Accepted Answer

You can if you stop paying property taxes or homeowners insurance. Those obligations don't go away.

Reverse Mortgages in Napa, CA — Turn Equity Into Income