Is there a maximum amount I can receive from a reverse mortgage?

Is there a cap to how much money I can pull out with a reverse mortgage? My property is worth quite a bit, but I do not know if I am allowed to pull all my equity.
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American Advisors Group | Phil Scott
With a standard reverse mortgage, there is a current limit to the maximum value your home can be valued at, which is $625,500. If your property is worth more then this, and you wish to release a higher amount of money than available on a standard reverse mortgage, we may be able to look into offering you a jumbo reverse mortgage. Take the opportunity to call us for more information. If you are looking for more information about the reverse mortgage loan program, please feel free to request a free educational DVD, presented by Former Senator Fred Thompson. It will give you valuable information, so you can make an educated decision about this program.

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: 4/13/2011

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