Question 1

Can I still leave my Rohnert Park home to my heirs?

Accepted Answer

Yes. Your heirs can repay the loan and keep the home, or sell it and keep any remaining equity. The loan balance never exceeds the home's value.

Question 2

What happens if I need to move to assisted living?

Accepted Answer

The loan becomes due when you permanently leave the home. You or your heirs must sell or refinance within a set timeframe, typically six months.

Question 3

Do I have to take all the money at once?

Accepted Answer

No. You can structure a line of credit, monthly payments, or a lump sum. Most Rohnert Park clients choose lines for flexibility.

Question 4

Will a reverse mortgage affect my Social Security or Medicare?

Accepted Answer

No. Reverse mortgage proceeds don't count as income for federal benefits. They can affect needs-based programs like Medicaid, though.

Question 5

How much can a 70-year-old access on a $550K Rohnert Park home?

Accepted Answer

Roughly $275K to $300K, depending on rates and existing liens. Older borrowers and lower rates increase available funds. Rates vary by borrower profile.

Reverse Mortgages in Rohnert Park: Turn Home Equity Into Retirement Income