No, there are no employment or income verifications required for a reverse mortgage. Reverse mortgages are designed specifically for seniors, most of whom are retired and not working, so it would be a little silly to require employment verification, wouldn't it? With this loan, the borrower is receiving money from the bank, not making monthly mortgage payments, so it is unnecessary to verify that you have an income. As long as you are still able to keep up with your insurance and property taxes, you do not need anything else, and many people use the funds from their reverse mortgage to take care of that. Instead of income or credit requirements, we require that the borrower takes good care of their home so it retains its maximum value, thus making it more likely for the loan to be repaid in full when the loan becomes due.

Disclaimer: The response above is not intended to be anything other than the educated opinion of the author. It should not be relied upon as financial advice. America Advisors Group recommends speaking directly with an AAG Reverse Mortgage Professional regarding your specific situation and needs. Please call 1 (800) 466-0572 to receive AAG's information pack with a FREE DVD and Brochure featuring Former Senator Fred Thompson.