Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You keep the title. The loan is repaid when you sell, move out, or pass away.

Question 2

What happens if I outlive the loan?

Accepted Answer

Nothing. You can stay as long as you live in the home and keep up taxes and insurance.

Question 3

Can my heirs keep the home after I pass?

Accepted Answer

Yes. They repay the loan balance — usually by refinancing or selling the property.

Question 4

Is the money I receive taxable income?

Accepted Answer

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

Question 5

What is HUD counseling and why is it required?

Accepted Answer

It's a session with an approved housing counselor. FHA requires it to ensure you understand the loan.

Question 6

Does my El Cajon home qualify for a reverse mortgage?

Accepted Answer

Most single-family homes do. Condos need FHA approval. We can confirm eligibility quickly.

Reverse Mortgages in El Cajon — Turn Equity Into Income