Question 1

Do I lose ownership of my Hesperia home?

Accepted Answer

No. You stay on title and own the home. The lender places a lien — nothing more.

Question 2

What happens when I move out or pass away?

Accepted Answer

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

Question 3

Can I get a reverse mortgage with an existing loan?

Accepted Answer

Yes. The reverse mortgage pays off your current loan first. Remaining proceeds come to you.

Question 4

How do I receive the funds?

Accepted Answer

You choose: lump sum, monthly payments, a line of credit, or a combination of all three.

Question 5

Is HUD counseling really required in California?

Accepted Answer

Yes, statewide. You must complete it before any lender can finalize your application.

Question 6

What credit score do I need for a HECM in Hesperia?

Accepted Answer

HECMs don't have a minimum credit score. The financial assessment focuses on tax and insurance payment history.

Reverse Mortgages in Hesperia — Turn Equity Into Income