"We're sorry to hear that money is tight for you, but we have a great solution to your financial problems. Please don't refinance your property first, you'll be required to pay this amount back plus interest and the $50,000 you already owe, with the proceeds of your reverse mortgage. You don't say how much your property is worth, but as long as it is enough to pay back the $50,000 and leave enough for the coming years, then you could release an amount that will pay off your existing mortgage and give you enough to live off. You could choose to take a lump sum, receive monthly payments, open a line of credit to use when you wish, or choose the best combination for you out of these options.

We'd like to help you begin each new day safe in the knowledge that you're free of debtors, so I recommend speaking to one of our reverse mortgage professionals. They'll guide you through the reverse mortgage process from start to finish. Contact us to request our free educational DVD and brochure pack too. We're standing by to help you. "

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.