On the proviso that you continue to pay your home insurance, your property taxes and keep the home in good repair, your reverse mortgage will last as long as you continue to live in the property. If your loan balance grows to be greater than the value of your home, nothing will change. You will not be asked to pay this additional amount back, and if you have monthly payments from us, these will continue. When the time comes for you to sell or leave the property, the FHA insurance you have been paying will kick in, and make up the additional amount to the reverse mortgage. Neither you nor your heirs will be expected to find this additional money. You won't even have to pay this FHA insurance out of pocket, it simply accrues on your loan amount and is not due until you sell or leave your home.

If you're looking for more information on reverse mortgages, why not request a copy of our informative DVD. It will answer a lot of your questions and give you greater insight into how reverse mortgages work. Click on the links provided and we'll post you a copy for free.

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.