Do I Still Own My Home?

ABSOLUTELY!! You retain full ownership of your home when you obtain a Reverse Mortgage. The lender has a lien against your property. Since you make no monthly payments the loan balance increases over time.

When the loan is repaid, the borrower or their heirs pay off the loan balance which consists of; the financed closing cost and cash advanced from the interest that has accrued. The remaining Equity stays with the homeowner or their heirs.