Common Questions

What is a Reverse Mortgage?
How does a Reverse Mortgage loan differ from a home equity loan?
Are there any restrictions on how I can use my money?
Do I have to pay Income tax on the proceeds?
If there are no mortgage payments, what are my responsibilities?
What if there is already an existing mortgage on the home?
Will my right to public benefits be affected?
Why is a Non-Recourse Loan a good thing?
What Happens When the Loan becomes due and payable?
What happens to my debt?
When do I pay it back?
What happens to our home when we pass away?
What's the most I can owe?
If my home appreciates in value while I have a Reverse Mortgage loan, who will be entitled to that money?
Can I be forced to sell or vacate my home if the money I owe on the loan exceeds the value of my home?
Will my heirs owe anything to the mortgage lender if I die before the loan is paid off?
Are there out-of-pocket costs?
How safe are Reverse Mortgages?
Who really owns my home?
Why should I choose New Castle Mortgage?
Who should I look to for advice?
What can Families and Advisors do for the Seniors?
Is getting a Reverse Mortgage loan the best thing for me to do? Why don't I just sell my home?
What happens if my spouse or I need to go to a nursing home?
What happens if we decide to move?
What if I decide to sell my home?
Understanding foreclosure risks.