Question 1

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes. Title stays in your name. The lender places a lien, just like a traditional mortgage.

Question 2

What happens when I pass away or move out?

Accepted Answer

The loan becomes due. Heirs can sell the home, pay off the balance, or refinance to keep it.

Question 3

Can my spouse be removed from the loan to qualify?

Accepted Answer

Non-borrowing spouses under 62 have specific protections. Never remove a spouse from title without legal and financial advice first.

Question 4

Is reverse mortgage income taxable?

Accepted Answer

Loan proceeds are not considered income. Consult a tax advisor for your full picture.

Question 5

How much can I borrow in Windsor?

Accepted Answer

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

Question 6

What's the biggest risk with a reverse mortgage?

Accepted Answer

Defaulting on taxes, insurance, or maintenance. Those failures can trigger the loan to become immediately due.

Reverse Mortgages in Windsor, CA — Turn Equity Into Income