What are the specific reverse mortgage qualifications?
I’m 75 years old and in good health, but it is becoming increasingly difficult to pay my mortgage and other expenses with the little income I have. A friend suggested I look into getting a reverse mortgage. How do I know if it’s right for me? What are the qualifications for a reverse mortgage?
American Advisors Group | Will Rae
Due to the variability of every individuals situation, it is best to find a definite answer to your question by speaking to one of our representatives. However, you qualify for a reverse mortgage if you are over the age of 62, own your home and live there as your primary residence. After your qualification, we will calculate the amount you can receive based on your age, the value of your home and the current interest rates.
With a reverse mortgage, it is possible to eliminate your mortgage payments, and give you extra money to be able to pay for your other expenses and live comfortably. If that sounds like something you would be interested in, then it may be worth giving us a call, or requesting a DVD for some more information.
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: 8/4/2010
With a reverse mortgage, it is possible to eliminate your mortgage payments, and give you extra money to be able to pay for your other expenses and live comfortably. If that sounds like something you would be interested in, then it may be worth giving us a call, or requesting a DVD for some more information.
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.
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Ask Your QuestionMore Questions
- Is there a set maturity date on the reverse mortgage?
- How will my reverse mortgage affect my eligibilty for other types of loans?
- Can I start paying off my reverse mortgage now?
- Do my property taxes differ with a reverse mortgage?
- Does the bank own my home after I sign up for a reverse mortgage?
- How do I apply for a reverse mortgage?
- How do I designate who will receive my reverse mortgage debt?
- Can I get a reverse mortgage if I have a part time job?
- Which reverse mortgage will cost me less?
- What are the pros and cons to a reverse mortgage?
- How do I know if I qualify for a jumbo reverse mortgage?
- What are the out of pocket expenses of a reverse mortgage?
- Would it be practical for me to get a reverse mortgage if I need financing for a short amount of time?
- Am I going to have to pay back my reverse mortgage if I choose to sell my home?
- What happens if my loan balance on my reverse mortgage is greater than my house value?
- How many lenders should I talk to before getting a reverse mortgage?
- What bills will I still be required to pay if I sign up for a reverse mortgage?
- What is the timeline and requirements I have to follow if I want to cancel a reverse mortgage?
- How long will I have to sign the paperwork once I get approved for a reverse mortgage?


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