Can I use reverse mortgage to pay off huge credit card debt?

I have huge credit card debt that I need to pay off. Can I use reverse mortgage to help?
Share |
American Advisors Group | Phil Scott
A reverse mortgage could be the solution to this financial worry. Once you've been approved for a reverse mortgage, you can choose to spend the money whichever way you like. The only stipulation is you must pay off an existing mortgage first, but then you can pay off your credit card and never have to worry about monthly payments again. You can take a lump sum to pay off your debts, then either top this up with a one-time additional amount, receive monthly payments, open a line of credit, or take the combination of these that suits you best. To find out if you meet qualify for a reverse mortgage, call in to speak with one of our reverse mortgage professionals, they can work out the amount you can release from your property and give you any extra advice you need. We also have an informative DVD packed with top tips on how a reverse mortgage can benefit your life. You can apply for your free copy through the link provided. We hope to hear from you soon.

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.
Replied: 10/21/2010

Ask a FREE Reverse Mortgage Question

Ask Your Question

More Questions


Reverse Mortgage Professionals