Question 1

Does the bank own my home with a reverse mortgage?

Accepted Answer

No. You keep title to your home. The lender places a lien, just like a regular mortgage.

Question 2

What happens when I pass away?

Accepted Answer

Your heirs can repay the loan and keep the home, or sell it and keep any remaining equity.

Question 3

Can I be forced out of my Winters home?

Accepted Answer

Only if you stop paying taxes, insurance, or stop living there as your primary residence.

Question 4

How much can I borrow against my home?

Accepted Answer

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

Question 5

Is the cash I receive taxable?

Accepted Answer

Generally no — loan proceeds are not considered income. Consult a tax advisor for your specific situation.

Question 6

Do I need good credit to qualify?

Accepted Answer

Credit standards are more flexible than conventional loans. Lenders do review credit and income history for financial assessment.

Reverse Mortgages in Winters, CA — Turn Equity Into Income