No, reverse mortgages are not welfare programs or just for people who need money. Reverse mortgages are for anyone who has a substantial amount of equity in their home and who would like to use that equity as cash in their everyday life. For some, a reverse mortgage saves them from foreclosure or bankruptcy, and for others, it allows them to continue living a comfortable lifestyle. Basically, a reverse mortgage can help anyone who feels like they could use some extra money in the bank.

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.