The good news is that there are no early-payment penalties with a reverse mortgage. If you wanted to pay back an amount each month or even pay off your entire reverse mortgage, then you would simply owe the original loan amount plus interest and fees. You may also make payments whenever you wish, so you can skip months if money was tight, without any non-payment fees. If you have any more questions about how reverse mortgages work, why not call us today or order our free educational DVD, presented by Former Senator Fred Thompson. We will post one to you if you contact us via the link or phone number provided.

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.