When you want to withdraw some of the proceeds of your reverse mortgage from your line of credit, you will have to notify the bank in writing each time you require a draft. This is to protect your money, as it is better for you and the lender if it takes more than a phone call to request funds. It typically doesn't take much more than a week from the receipt of the letter, but you would have to check with the reverse mortgage lender to confirm this. You can receive the money by either check or bank transfer.

If you want to know more about reverse mortgages, please 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.