We have a few basic qualification requirements that potential clients must meet, but other than that, the restrictions on a reverse mortgage are minimal. All persons named on the home title must be 62 years old or above, you must use the home as your primary residence and you are required to own the property or have a mortgage that leaves enough equity remaining once it has been paid off. We also ask that you keep up with the payments for your property taxes and home insurance, and keep your home in a good state of repair. Other than that, you can choose to spend the equity how you wish, you will never have a monthly mortgage payment to make and you can stay in the property for as long as you desire. The benefit a reverse mortgage will make to your life can be significant, you can improve your quality of life, help loved ones, travel the world, pay medical bills and enjoy the freedom being debt free will bring. To give you a more in-depth answer, it would be best for you to speak to one of my colleagues, who will find out more about your situation and property. Feel free to call in on the number provided, or click on the link to receive our free DVD in the mail. It's a great place to start along the road to living debt-free.

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.