Question 1

How much can I borrow with a reverse mortgage in Red Bluff?

Accepted Answer

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

Question 2

Do I still own my home with a reverse mortgage?

Accepted Answer

Yes, you retain title and ownership. The loan becomes due when you sell, move out permanently, or pass away.

Question 3

What happens to my reverse mortgage when I die?

Accepted Answer

Heirs can repay the loan and keep the home, or sell the property to settle the debt. They never owe more than the home's value.

Question 4

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

Accepted Answer

Yes, but you must pay off the existing mortgage with reverse mortgage proceeds. Any remaining funds go to you as cash.

Question 5

How long does reverse mortgage approval take in Tehama County?

Accepted Answer

Expect 45-60 days from application to funding. Mandatory counseling and FHA processing add time compared to conventional loans.

Reverse Mortgages in Red Bluff: Access Your Home Equity Without Monthly Payments