A government-backed reverse mortgage is called a HECM (Home Equity Conversion Mortgage), and you should only go with a lender who offer this type of reverse mortgage. The government's involvement is a positive aspect of a reverse mortgage, they are there to protect you, the homeowner. The FHA regulates the industry, and makes sure lenders treat you fairly. The FHA also offers a financial safeguard in the form of FHA insurance. This insurance will protect you and your family if your homes value decreases. In the unlikely event that your home sells for less than the loan amount, you and your heirs will not need to make up the additional amount. FHA insurance will also protect you in the event of your lender going out of business. You won't even have to pay this FHA insurance out of pocket, it simply accrues on your loan amount and is not due until you sell or leave your home. AAG is a FHA-approved lender, so please do make a call to us today.

To find out more about how American Advisors Group can help you, order a free educational DVD with the link or phone number provided. It will answer a lot of your questions and give you greater insight into the positive impact a reverse mortgage can have.

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.