FHA insurance is required to get a reverse mortgage with AAG, but it doesn't matter whether or not the previous mortgage had FHA insurance or not because this is another mortgage altogether. With a reverse mortgage, FHA insurance will kick in in the event that there is not enough money from the sale of your house in order to repay the loan in full. In this situation, the difference will be paid via your FHA insurance. This is one of the reasons why reverse mortgages are non-recourse loans- or loans in which you will never owe more than the value of your house. I would recommend getting in touch with me or another AAG representative. They will be able to give you further information about reverse mortgages that is better tailored to your specific situation.

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.