It's true that interest accrues on a reverse mortgage, it will be calculated from the amount that has been used by you and is simply added to the total balance of the loan. You won't be required to make interest payments for the lifetime of the loan, instead they will be paid when the loan is due, which is when you sell or leave the house. If you're worried about interest building on your loan, rest assured that you can never owe more than your house is worth, even if its value plummets and interest rates soar. The monthly FHA insurance that you will accrue on your reverse mortgage will leave you and your family safe, even in this unlikely scenario. If living a life free of financial worries sounds good to you, then please do call in to speak with an American Advisors Group representative. We can also send you a helpful DVD, which we'll send to you for free, along with a brochure about the reverse mortgages we offer. Just contact us through the link provided on this website.

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.