There are numerous types of reverse mortgage, so let me explain these in a basic way to you. We offer a traditional HECM (Home Equity Conversion Mortgage), which is the standard reverse mortgage product. AAG also offers the HECM Saver loan program, which nearly eliminates one of the biggest upfront fees that you were previously required to pay. A HECM for Purchase is available if you were looking to buy a new property with the proceeds of a reverse mortgage. My best advice is to call AAG to discuss the different options you have. You are under no obligation if you call and ask questions. Your reverse mortgage professional will explain the entire reverse mortgage process to you, and let you know how much money may be available to you on each program.

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.