We do not call our reverse mortgage loans a multi-purpose reverse mortgage, but yes, you can spend the proceeds on whatever you wish. You must first pay off any liens and mortgages against your home, but then you can use the remainder of the money in any way you want to. The seniors we work with use the money in many different ways - to pay off medical bills, make a big purchase, travel the world, help family members, to name just a few.

To find out more about how a reverse mortgage can work for you, you can also order our free educational DVD, which features Former Senator Fred Thompson. You can place an order for your copy from the link on this website or the 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.