Will I get more money if I am older and apply for a reverse mortgage?

I have read that the older you are, the more money you get from a reverse mortgage. Is this true? What are the guidelines for applying?
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American Advisors Group | Robyn Perry
It is true that the older you are, the more money you will qualify for. The amount of equity you can release from your home is based on three factors - the age of the youngest borrower, the value if your property, and current interest rates. All named deed holders to the property must be 62 years or older, the home must be your main residence, and the home must either being owned outright or have a mortgage balance that can be paid off. If it sounds like you meet these eligibility requirements, please call us today. You are under no obligation if you speak with us, so why not call to see how much money you could receive.

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.
Replied: 4/27/2011

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