Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. You remain on title and own the home. 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 stay in the home as long as it's your primary residence. The loan doesn't come due just because time passes.

Question 3

Can I get a reverse mortgage on a rural Etna property?

Accepted Answer

Usually yes, but the appraisal process is more involved. Acreage and outbuildings can complicate valuation in Siskiyou County.

Question 4

Is a counseling session really required?

Accepted Answer

Yes — HUD-approved counseling is mandatory before you can close a HECM. It protects you, and it's not optional.

Question 5

How do I receive the money from a reverse mortgage?

Accepted Answer

You choose: lump sum, monthly payments, a credit line, or a combination. The right structure depends on your income needs.

Question 6

What are the biggest costs to watch for?

Accepted Answer

Mortgage insurance premiums and origination fees are the largest. Closing costs on reverse mortgages run higher than most loans.

Reverse Mortgages in Etna, CA — Turn Equity Into Income