Tenure refers to one type of monthly payment option from the reverse mortgage lender directly to you. There are two monthly payment options - Tenure means equal monthly payments as long as at least one borrower remains living in the home. Term means you will receive equal monthly payments for a fixed period of months. The benefit of the tenure payment plan is that the money will keep on coming on a monthly basis. Even if all the equity in your home has been used, the payments will not stop. You have two options as to how you receive the money on a monthly basis - you can choose to have the money automatically wired into your account, or you can choose to have a check sent to you in the post.

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.