There is no set pay back date applied to a reverse mortgage. The loan program has been designed so you do not need to repay the money until you sell your property, permanently move out, or when you pass away. As long as you continue to pay your home insurance premiums and property taxes, and keep your home in a good state of repair, the loan can last as long as you need it to. When the loan does become due and payable, you will simply owe the reverse mortgage lender the original loan amount, plus any interest and fees that have accrued over the length of time the loan was actioned for.

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.