Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You keep title to the home. The lender does not own it — you do, as long as you live there and meet loan terms.

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 into a conventional loan to keep it.

Question 3

Can I get a reverse mortgage on a La Mesa condo?

Accepted Answer

Only if the condo complex has FHA approval. Many complexes do not. We can check your building's status quickly.

Question 4

How much can I borrow against my La Mesa home?

Accepted Answer

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

Question 5

Is HUD counseling really required?

Accepted Answer

Yes, for HECM loans it is mandatory. It takes about an hour and must happen before you can apply.

Question 6

Do rising rates affect my reverse mortgage payout?

Accepted Answer

Yes. Higher rates reduce the amount you can borrow. Locking in sooner rather than later protects your proceeds.

Reverse Mortgages in La Mesa: Turn Equity Into Income