"I can tell you more about this matter, it's not too complex a subject. We look for single family homes, but if you rent a room to a tenant, you can continue to do so. You may also be the owner of a home with up to three additional rental units, but you must continue to occupy one of your units or the loan will become due. We will also approve a reverse mortgage on a HUD (Department of Housing and Urban Development) approved condo. To see if your condo has been approved, you can call us and we'll look into this for you. If your condo hasn't yet been rated by HUD, then you can apply for it to be so. The other kind of property that we can work with is a manufactured home, as long as it meets FHA (Federal Housing Administration) requirements. All eligible property types must meet all FHA property standards and flood requirements.

I suggest you call one of my colleagues to discuss your situation, they can give you all the advice you need to make the right decision for you. It's also a good idea to order one of our free educational DVDs, just follow the ‘click here' or ‘contact us' links on this website. We're standing by to help you. "

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.