Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You retain title and ownership. The lender places a lien that gets repaid when you sell or move permanently.

Question 2

What happens if I outlive the loan proceeds?

Accepted Answer

You can never be forced out. You stay in the home as long as you pay taxes, insurance, and maintain the property.

Question 3

Can my heirs inherit the house?

Accepted Answer

Yes. They can keep it by repaying the loan balance or sell it and keep any remaining equity after payoff.

Question 4

Are reverse mortgage proceeds taxable?

Accepted Answer

No. The IRS treats proceeds as loan advances, not income. Consult your tax advisor for personal circumstances.

Question 5

How much can I borrow in Foster City?

Accepted Answer

It depends on your age, home value, and interest rates. Older borrowers with higher-value homes access more equity.

Reverse Mortgages in Foster City: Turn Home Equity Into Retirement Income