Your home must be in a good state of repair and free from construction to qualify for a reverse mortgage. However, there are some situations where you can use the proceeds of the loan to pay for home improvements. As part of the reverse mortgage process, an appraiser will visit your home and they will indicate what must be completed to make the property within HUDs minimum property standards. If there are some improvements that must be made, then you must complete the work within six months of closing the loan. Any repairs that aren't stipulated can be started whenever suits you, using the proceeds of your reverse mortgage.

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.