Yes! You are still the owner of your home, so you are welcome to sell it if you want or need to. In fact, many people get a reverse mortgage to do exactly what you are planning, and use the loan to pay off their first mortgage. Just keep in mind that the rules of the loan are that the borrowers must live in the home as their primary residence for the term of the loan. If you do sell your home, your loan will automatically become due, and you will be responsible to pay the loan amount back.

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.