No, you do not need to have paid off a student loan to qualify for a reverse mortgage. If you qualify for the reverse mortgage loan program, you must first pay off any existing liens on your home with the equity you release. However, once any liens are paid off, the remainder of the proceeds are yours to spend however you wish. You have the choice to pay off any debts not linked to your home, such as a student loan or credit cards. If you find you need to borrow more money at a later date, you may be able to do so, but you cannot use your property as collateral. Your reverse mortgage must be the only debt secured against your home.

If you want to know more about reverse mortgages, place an order for our educational DVD or phone us on the number provided. 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.