Question 1

Do I lose ownership of my home with a reverse mortgage?

Accepted Answer

No. You keep the title. The lender places a lien on the property, repaid when you sell or move out.

Question 2

What happens when I pass away?

Accepted Answer

Your heirs can repay the loan and keep the home, or sell it. Any remaining equity goes to your estate.

Question 3

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

Accepted Answer

Yes, if your equity is sufficient. The existing balance is paid off at closing using reverse mortgage funds.

Question 4

Is the money I receive taxable?

Accepted Answer

Generally no. Reverse mortgage proceeds are loan advances, not income. Consult a tax advisor for your situation.

Question 5

Does Lincoln's HOA affect reverse mortgage eligibility?

Accepted Answer

HOA fees are your responsibility to keep current. Falling behind can trigger default on a reverse mortgage.

Question 6

How much can I borrow against my Lincoln home?

Accepted Answer

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

Reverse Mortgages in Lincoln, CA — Turn Equity Into Income