Definitely not true! All of our mortgages are government insured. So, in the very unlikely event that the loan exceeds the amount that the house sells for, you are still not liable for the full amount. Part of your loan will be paid with the sale of your house, and the difference will be paid via government insurance, so there is no need to worry about piling up debt or debt being passed to your heirs.

There are a lot of things that many people do not understand about reverse mortgages. They can be complicated! There are many reliable sources to find out the truth if you do some research, though. The Senior Resources page on our AAG website has many helpful links to get you started, and remember that you can always call and speak to one of our specialists if you have any questions.

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.

No, it is not true. A reverse mortgage is what we call a non recourse loan. That means the borrower can never owe more than the house is worth when the loan matures.

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.