Question 1

Do I lose ownership of my St. Helena home?

Accepted Answer

No. You keep title to the home. The lender places a lien, but you remain the owner as long as you meet loan obligations.

Question 2

What happens when I pass away or move out?

Accepted Answer

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

Question 3

Can I use a reverse mortgage if I still have a balance?

Accepted Answer

Yes, if the balance is small enough. The reverse mortgage pays off the existing loan first. Remaining proceeds come to you.

Question 4

Is my home in St. Helena too valuable for a standard HECM?

Accepted Answer

It might be. FHA HECM limits cap the eligible value. Jumbo reverse mortgage products exist for higher-value Napa properties.

Question 5

What's required before closing a reverse mortgage in California?

Accepted Answer

HUD-approved counseling is mandatory. All borrowers on title must complete it. Budget one to two weeks for scheduling.

Question 6

How do I receive the funds?

Accepted Answer

You choose: lump sum, monthly payments, a line of credit, or a combination. Each option has different long-term trade-offs.

Reverse Mortgages in St. Helena, CA