What is a reverse mortgage?

A reverse mortgage is a government-insured loan where the lender pays you for equity in your property.

To qualify for a reverse mortgage, you need to be 62 years of age and have either paid off a significant amount of your home loan (typically 50%) or own the property outright.

American Advisors Group (AAG) can help determine if a reverse mortgage is right for you.

Feel secure instead of feeling stuck

With a reverse mortgage through AAG, you’ll be able to get some peace of mind when things are tight.

It's a flexible option when you have an emergency need for cash, want to cut down your monthly expenses or just need to keep up with the rising cost of, well, everything.

In most cases, you don’t have to pay the lender back until you either move out of the property, sell your property or pass away, and you’ll never owe more than the house is worth.

Relax into retirement

You’ve spent your whole career worrying about finances. You shouldn’t be stressing now that you’re out of the workforce.

AAG offers a free information kit on reverse mortgages — just fill out some basic information on your house and see if it’s the right option for you.

With an A + rating from the Better Business Bureau, and approval from the U.S. Department of Housing and Urban Development, you can trust AAG to have the best solution for your finances.

About the Author

Chris Middleton

Chris Middleton

Staff Writer

Chris Middleton is a freelance writer at MoneyWise. He’s written for CBC News, blogTO, Parton and Pearl and a number of other places. He has a Master’s in Creative and Critical Writing from the University of Gloucestershire.

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