Question 1

Do I make monthly payments on a reverse mortgage?

Accepted Answer

No monthly mortgage payments are required. You must still pay taxes, insurance, and HOA dues.

Question 2

When does a reverse mortgage become due?

Accepted Answer

The loan is due when you sell, move out, or pass away. It also comes due if you fail to pay taxes or insurance.

Question 3

Can I get a reverse mortgage on a high-value San Juan Capistrano home?

Accepted Answer

Standard HECMs have loan limits. If your home exceeds those, a jumbo reverse mortgage may be the right fit.

Question 4

Is HUD counseling really required?

Accepted Answer

Yes — it's mandatory before closing any HECM. You work with a HUD-approved counselor, not the lender.

Question 5

What happens to my heirs when I pass away?

Accepted Answer

Heirs can repay the loan and keep the home, or sell the home to satisfy the balance. They keep any remaining equity.

Reverse Mortgages in San Juan Capistrano