If you have an existing mortgage or other lien against your home, you will be required to pay these off, but that is the only requirement we set when it comes to the proceeds of your reverse mortgage. Your money is yours to use however you wish, just make sure you keep up with paying your home insurance and property taxes, and keep your home in a good state of repair. This tax-free money can be used any way you choose - for example, to make home improvements, to travel and see the world, to pay bills, or to spend however you wish. The equity you release is your money, so use it how you want to and enjoy improving your quality of life. To find out more about how American Advisors Group can help you, order a free educational DVD with the link or phone number provided. It will answer a lot of your questions and give you greater insight into the positive impact a reverse mortgage can have.

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.