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

You can't be forced out as long as you live there and maintain the home. HECMs are non-recourse loans.

Question 3

Can my heirs keep the home after I pass?

Accepted Answer

Yes. They can pay off the reverse mortgage balance and keep the property. They typically have 12 months.

Question 4

Is HUD counseling really required?

Accepted Answer

Yes, for HECMs. It's mandatory, not optional. Budget about an hour — it's worth it.

Question 5

What if I still have a mortgage on my Manteca home?

Accepted Answer

The existing mortgage gets paid off at closing using your reverse mortgage proceeds. Remaining funds come to you.

Question 6

How do I receive the money from a reverse mortgage?

Accepted Answer

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

Reverse Mortgages in Manteca, CA