Yes, both loans are based on the equity that has built up in your home, but there are big differences between the two loans. With a reverse mortgage, there are no income or credit score requirements in order to be approved for the loan. A bank home equity loan requires you to pay a monthly payment to the lender, so they do have credit and income requirements. What may be beneficial to your circumstances is that with a reverse mortgage, you do not need to make monthly payments to the lender to pay back the loan. Instead, the loan is repaid at one time, when you sell or permanently leave the home. Of course, you can also pay any part, or all, of the loan back at any time if you choose to. To receive your copy of our educational DVD, featuring Former Senator Fred Thompson, simply call the number provided or fill in the online form. You'll receive a pack which includes a step-by-step brochure and the DVD. We hope to hear from you soon.

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.