Non-recourse loans are loans that are set up so the borrower can never owe more than the house is worth. Reverse mortgages come under this category and they are FHA insured. In the unlikely event that your loan exceeds the amount your house sells for, you or your estate are not liable for the full amount. Part of your loan will be paid with the sale of your house, and the difference will be paid via government insurance, so there is no need to worry about piling up debt or debt being passed to your heirs. The fact that reverse mortgages are non-recourse loans make it a safe and viable option for many seniors. Make a call to us to find out more about the ways we can help you.

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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.