Both reverse mortgages and home equity loans use the equity you have built up in your property. This equity can be turned into cash, and loaned to you for times when you need it most. However, with a home equity loan you must make regular monthly payments of principal and interest. A reverse mortgage is different because you aren't required to make monthly mortgage payments. Repayment of a reverse mortgage is not required until the last borrower on title moves, sells the property or becomes deceased. You will be responsible for the upkeep of your home, and payment of your property taxes and home insurance, but apart from these responsibilities, you may live the rest of your life enjoying your new found financial freedom. I suggest you apply for our free educational DVD, which we'll send to you if you fill in your information on the web link provided. Or why not just call us to speak with one of our expert AAG advisors. They'll walk you through a no obligation financial snapshot of your situation, how much you could qualify for, and then help you decide on what is best for 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.