Does the bank own my home after I sign up for a reverse mortgage?

Is a reverse mortgage going to require me to give up my title to whoever I get my reverse mortgage to? Will I run the risk of being kicked out of my own home?
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American Advisors Group | Robyn Perry
Do not worry, you will still continue to own your home. When you take out a reverse mortgage, you keep the deed to your house and continue being full owner of the property. Both AAG and the bank will never own your property, even when the loan becomes due. When that happens, it is your or your family's choice whether to sell the house, re-finance the house, get another mortgage, or to pay off the loan in a different way.

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.
Replied: 5/6/2011

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