One of the many misconceptions about reverse mortgages is that you are giving your home up to the lender. This is not the case at all. This is just like a regular real estate loan, where you take a loan out against the equity of your home. The only difference is that instead of the loan being paid back monthly over time, a reverse mortgage is repaid when the last borrower leaves the home. The home still belongs to the borrowers and they are free to do with it as they please until they sell the
property.

Like I said, there are many misconceptions about reverse mortgages that make them seem like a bad choice, but the truth is that they can be a viable financial tool for many seniors today. I suggest speaking to one of our Professionals, so they can give you real facts about reverse mortgages, and you can make an educated decision about whether or not a reverse mortgage is right for 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.