The good news is your inheritors will not face any debts due to a reverse mortgage on your property. The money you borrow is the equity you have built up in your home - so it's your money, you have just found a way to access it without selling your home. When the time comes for the loan to be paid back, you will owe the original amount you were approved for, and the accrued interest and fees. In the unlikely event the amount you owe has grown to more than the value of your home, the FHA insurance you have paid on the loan will step in and make up the difference to the lender. This means your children will not face any debts from the reverse mortgage.

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.