Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. Title stays in your name. The lender places a lien, just like a regular mortgage.

Question 2

What happens when I move out or pass away?

Accepted Answer

The loan becomes due. Heirs can sell the home, refinance, or pay off the balance to keep it.

Question 3

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

Accepted Answer

Yes, if you have enough equity. The reverse mortgage proceeds must first pay off the existing loan.

Question 4

How does my Isleton home's condition affect the loan?

Accepted Answer

FHA appraisers flag required repairs. Significant issues can reduce your available equity or delay closing.

Question 5

Is the cash I receive taxable income?

Accepted Answer

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

Question 6

How much can I borrow?

Accepted Answer

It depends on your age, home value, and current interest rates. Older borrowers with more equity access more funds.

Reverse Mortgages in Isleton, CA — Turn Equity Into Income