Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You keep the title. The lender places a lien on the property, repaid when you sell, move out, or pass away.

Question 2

What happens to the home when I pass away?

Accepted Answer

Your heirs can sell the home to repay the loan or refinance it. They keep any remaining equity after the balance is paid.

Question 3

Can my spouse stay if I pass away first?

Accepted Answer

Eligible non-borrowing spouses can stay in the home. They must meet HUD's requirements and be listed on the loan at closing.

Question 4

How much can I borrow with a reverse mortgage in Roseville?

Accepted Answer

It depends on your age, home value, and current rates. Older borrowers with more equity generally qualify for larger amounts.

Question 5

Is the money I receive taxable?

Accepted Answer

Reverse mortgage proceeds are loan advances, not income. They are generally not taxable — consult a tax advisor to confirm.

Question 6

What is the HUD counseling requirement?

Accepted Answer

Federal law requires you to complete counseling with a HUD-approved advisor before applying. It typically takes about an hour.

Reverse Mortgages in Roseville, CA — Turn Equity Into Income