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 or no longer live there.

Question 2

What happens if I outlive the loan?

Accepted Answer

You can stay as long as it's your primary residence and you maintain taxes and insurance. The loan doesn't come due early.

Question 3

Can I use a reverse mortgage on a Graeagle vacation cabin?

Accepted Answer

No. The property must be your primary residence. Seasonal or vacation homes don't qualify for HECMs.

Question 4

How much can I borrow against my Graeagle home?

Accepted Answer

It depends on your age, home value, and current rates. Older borrowers with more equity and lower rates get the most.

Question 5

Is HUD counseling really required?

Accepted Answer

Yes, it's mandatory for all HECM borrowers. It's a one-time session and can be done by phone — typically under two hours.

Question 6

What are the upfront costs on a reverse mortgage?

Accepted Answer

Expect an origination fee, FHA mortgage insurance premium, and closing costs. Most can be rolled into the loan.

Reverse Mortgages in Graeagle, CA — Turn Equity Into Cash