About Reverse Mortgages

Reverse mortgages also known as HECM (Home equity Conversion Mortgage) are a valuable tool empowering seniors age 62 and older. This unique product enables the borrower to remain in their home without a monthly mortgage payment. Borrowers do need to continue paying taxes, insurance, and general maintenance of the home. The money received is tax free and can be used any way the borrower wishes after paying off the current mortgage (if the borrower still owes).

These loans are government backed, meaning the borrower and their heirs cannot be held liable for the loan beyond the value of the home. In addition, a borrower cannot be forced to leave or sell their home if the loan value is greater than the home value.

To qualify for a reverse mortgage, the borrower(s) on the property’s title must be 62 years of age or older, own the home outright or have paid down a significant amount, occupy the home as the principal residence, and not be delinquent on any federal debt.

The amount of money a borrower can receive is determined by a few factors: The age of the youngest borrower, the property value, amount owed on current mortgage, and interest and fees.



At American Advisors Group we know what your home means to you and your family and we understand the importance of protecting everything it represents. That’s why we take great pride in ensuring every customer’s situation is treated with absolute respect and dignity. There are some circumstances where we would like to forward the information you give us to an approved FHA reverse mortgage lender. All our approved affiliates take great pride in providing the best information on the benefits of a reverse mortgage.