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 when I pass away?

Accepted Answer

Your heirs can sell the home to repay the loan or refinance it. Any remaining equity goes to the estate.

Question 3

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

Accepted Answer

Usually yes, if it meets FHA property standards. Some rural homes need extra appraisal review.

Question 4

Is HUD counseling really required?

Accepted Answer

Yes — it's mandatory for all HECM borrowers. It typically takes about an hour and can be done by phone.

Question 5

What if I still have an existing mortgage?

Accepted Answer

The reverse mortgage pays off your current mortgage first. Remaining equity becomes your available funds.

Question 6

How much can I borrow against my Cloverdale home?

Accepted Answer

It depends on your age, home value, and current rates. Older borrowers with more equity access more funds. Rates vary by borrower profile and market conditions.

Reverse Mortgages in Cloverdale, CA — Tap Your Equity, Keep Your Home