The money you receive from a reverse mortgage can be used in anyway you choose, not just to pay bills. Any liens against your home, such as an existing mortgage, must be paid off. But once this is done, your money is yours to spend 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. Apart from these commitments, the tax-free proceeds can be used any way you choose. I hope you take this opportunity to relax and enjoy your retirement years. Please do call us on the number provided, or take the first step by requesting our free informative DVD through this website. Former Senator Fred Thompson presents the DVD and he does a great job of explaining the reverse mortgage process.

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.