Question 1

Do I lose ownership of my home with a reverse mortgage?

Accepted Answer

No. You remain on title and own the home. The loan is repaid when you sell, move out, or pass away.

Question 2

What happens when the homeowner passes away?

Accepted Answer

Heirs can repay the loan balance and keep the home. They can also sell the home to settle the debt.

Question 3

Can I get a reverse mortgage if I still have a regular mortgage?

Accepted Answer

Yes, if you have enough equity. The reverse mortgage pays off your existing loan first. Remaining funds go to you.

Question 4

Is HUD counseling really required?

Accepted Answer

Yes. It's mandatory before any HECM closes. It protects you — counselors explain costs, risks, and alternatives.

Question 5

Will property values in Siskiyou County affect what I can borrow?

Accepted Answer

Yes. Your payout is based on your home's appraised value, your age, and current rates. Rates vary by borrower profile and market conditions.

Question 6

How do I receive reverse mortgage funds?

Accepted Answer

You choose: lump sum, monthly payments, a line of credit, or a combination. Each option suits different financial needs.

Reverse Mortgages in Montague, CA — Turn Equity Into Income