That is just like asking what the catch is for a regular bank loan! The most important thing to understand about reverse mortgages is that they are NOT free money; they are just another kind of real estate loan. Money is borrowed against the equity of the home, and instead of paying a monthly payment, the payment is deferred to when the borrower moves out of the house or dies. At that time, the loan is repaid, with interest, just like any other loan.

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.