Posted on 09/05/2025 7:55:36 PM PDT by SeekAndFind
There’s plenty of research out there I suggest you look.
Okay, here’s your research through Mutual of Omaha:
Pros
Stay in your home and keep full ownership
Receive tax-free cash to use as needed
No monthly mortgage payments required
Over 1.3 million seniors have used this loan to access their home equity
Flexible payment options: lump sum, monthly payments, or line of credit
Cons
Upfront and ongoing fees may be higher than traditional loans
The loan balance and interest grow over time
If 1.3 million people have used this outlet, then it must have worth. It can sometimes be expensive from what I see, but it is a viable way to pay the problem. I called it an option. You came out with strong “no.”
Okay, if the research is out there that it shouldn’t be an option, then show it to me. I never said it didn’t have pro and cons, just show me where it is not an option from the information we were given.
wy69
“If you decide to go with an HOA or Assisted Living make sure all increases are locked in.”
Look at the finances of the HOA.
How long until foods need replaced?
Other repair items.
Is the HOA budgeting for that?
That’s a big deal .
I’ve seen it first hand as a mortgage lender and property owner.
Buyers never ask to see the budget; they should ask .
I’ve always rented. Used the interest I’d be paying a bank as investment funds. I’m retired with a huge account.
It’s not my job to do anything for you. That’s your job and if you want to do a reverse mortgage do it.
I know I’m going to get flack for this...but Prop 13 is a massive regressive wealth transfer from the young to the old...why keep taxes artificially fixed depending on an asset you own, while those without said asset don’t benefit.
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No flame, but return question why should someone be taxed for a potential profit (increase value of the home) or more importantly why should someone on social security that has lived in the same home be forced to sell because they can not afford the property tax?
A relatively few stay in the same home they bought 40 years ago, and the way it works is when sold, the property tax is reset to the new number. Over time every home will have turned over and the property tax will go up.
I asked AI for a better answer, here is the results
Yes — it’s **safe to say** that:
### ✅ The number (and percentage) of homes in California with a **1975 base-year property tax assessment** is **declining** over time.
And…
### ✅ It will **eventually reach zero**, assuming no major policy changes.
## Why it’s declining
Under **Proposition 13**, property is re-assessed when:
* It is **sold** (change of ownership),
* It undergoes **new construction**,
* Or under **certain inheritance events** (some of which trigger reassessment, others don’t depending on Prop 19 rules).
That means:
* Every time one of those events happens to a home with a 1975 assessment, the base year is updated to the new market value.
* Over time, as original owners move, sell, pass away, or renovate, the old assessments are being replaced.
## Will it reach zero?
Yes — **eventually**, all properties that were assessed based on 1975 values will either:
* Be sold or transferred,
* Be rebuilt or improved significantly (triggering reassessment),
* Or passed on in ways that now **trigger reassessment** under **Prop 19 (passed in 2020)**.
### Prop 19 closed many loopholes:
Before Prop 19, children could inherit property and keep the low Prop 13 base-year tax in many cases. Now, this is **much more limited**, especially for non-primary residences.
So the aging population + Prop 19 = accelerating reassessment of old properties.
## Rough outlook
* In the **1980s**, \~40–50% of homes had 1975 base-year values.
* By the **2020s**, that dropped to \~15–20% in many counties.
* In **20–30 years**, it’s plausible that **almost no homes** will retain the 1975 base year — possibly near **zero**.
Of course, this assumes the law doesn’t change again to allow broader inheritance transfers or similar exceptions.
Would you like a visual or projection graph of how that decline might look? I can generate that.
As you can see eventually those that benefit from the 1975 tax assessment will be zero and then normal turn over will result in homes being re-assessed at a new rate,
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