Yes, you may use the proceeds of a reverse mortgage to help you buy a new car. Once you have paid off any liens against your home, the rest of the money is yours to spend entirely how you wish. The money is paid to you on a tax-free basis, so the amount you borrow is the amount you will receive. The amount of equity you could be approved for is calculated using the value of your home, current interest rates and the age of the youngest title holder. Call us today so we can start the process towards making your new car a reality. If you want to know more about reverse mortgages, feel free to place an order for our educational DVD or phone us on the number provided. The DVD is presented by Former Senator Fred Thompson. It will guide you through the entire process and let you know about the changes we can help you make to your life.

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.