How is money distributed in reverse mortgage?
How is money actually distributed in reverse mortgage from AAG?
American Advisors Group | Will Rae
"How you choose to take your money once the reverse mortgage process is complete is up to you - it's your money so you should enjoy it! If you have en existing lien, such as a traditional mortgage or federal property debts, then we do require these to be paid off first. Then the remainder of equity you've released is yours to use as you wish. If you don't owe anything on your property, then the money is all yours to spend on whatever you like. There are numerous options available on how you receive your money from us too. You can take a lump sum, receive monthly payments of a set amount of dollars, open a line of credit to spend as and when you want to, or mix it up and take a combination of these three ways. Imagine how good it will be to have a healthy back balance or live life free of monthly mortgage payments. At AAG, we want to help you see this happen.
The world of reverse mortgages needn't seem complicated, we are on hand to help you better understand the process. Remember that you can always call and speak to one of our specialists if you have any questions, or take the first step towards a better life and order our free DVD today. "
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: 10/21/2010
The world of reverse mortgages needn't seem complicated, we are on hand to help you better understand the process. Remember that you can always call and speak to one of our specialists if you have any questions, or take the first step towards a better life and order our free DVD today. "
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.
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Ask Your QuestionMore Questions
- Is there a set maturity date on the reverse mortgage?
- How will my reverse mortgage affect my eligibilty for other types of loans?
- Can I start paying off my reverse mortgage now?
- Do my property taxes differ with a reverse mortgage?
- Does the bank own my home after I sign up for a reverse mortgage?
- How do I apply for a reverse mortgage?
- How do I designate who will receive my reverse mortgage debt?
- Can I get a reverse mortgage if I have a part time job?
- Which reverse mortgage will cost me less?
- What are the pros and cons to a reverse mortgage?
- How do I know if I qualify for a jumbo reverse mortgage?
- What are the out of pocket expenses of a reverse mortgage?
- Would it be practical for me to get a reverse mortgage if I need financing for a short amount of time?
- Am I going to have to pay back my reverse mortgage if I choose to sell my home?
- What happens if my loan balance on my reverse mortgage is greater than my house value?
- How many lenders should I talk to before getting a reverse mortgage?
- What bills will I still be required to pay if I sign up for a reverse mortgage?
- What is the timeline and requirements I have to follow if I want to cancel a reverse mortgage?
- How long will I have to sign the paperwork once I get approved for a reverse mortgage?


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