Yes, you can still be paying off your home and take out a reverse mortgage. You are required to pay off your existing mortgage with the proceeds of your reverse mortgage, and then the remaining equity is yours to use as you wish. There is no set percentage of how much of your mortgage you must have paid off, but as an estimate, you are more likely to qualify for a reverse mortgage if you have paid off at least 50 percent of your mortgage. This figure is simply an estimate though as each case is looked at individually. Many of our seniors choose to take a reverse mortgage for this exact reason. Take the first step towards a better life and call us today.

If you have any more questions about how reverse mortgages work, why not order a copy of our free educational DVD. It features Former Senator Fred Thompson and it's available 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.