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A reverse mortgage gives you multiple payment options, including monthly disbursements for life as long as you live in your home**. Pay off other debt, like higher-interest credit cards. Using a reverse mortgage to pay off credit cards or other high-interest debt may prove a sound finan-cial strategy. What a reverse mortgage shouldn’t be used
American Advisors Group (AAG) is a reputable reverse mortgage lender that offers Home Equity Conversion Mortgage (HECM) loan solutions nationwide. AAG was founded in 2004 by Reza Jahangiri, with a mission of helping older homeowners navigate retirement more easily. Finance of America Reverse LLC acquired certain AAG assets in 2023.
Pros of a Reverse Mortgage. Reverse mortgages offer borrowers a wide range of benefits. Here are some advantages worth considering: You are still the owner of your house. You retain the title to your home and, as long as you meet the loan obligations, you can continue to live there. As the owner, you can also bequeath your home to whomever you ...
Apr 1, 2023 · AAG offers different home equity solutions — Home Equity Conversion Mortgages and proprietary reverse mortgages, that are designed to give seniors a better financial outcome in retirement. Following the asset acquisition of AAG by FAR in April 2023, FAR and AAG together make up one of the largest reverse mortgage companies in the US.
Apr 3, 2023 · Yes, AAG is a reputable company, with excellent ratings from customers on Trustpilot. To add to its credibility, the company is also a member of the National Reverse Mortgage Lenders Association (NRMLA). It’s important to note that AAG settled with the Consumer Financial Protection Bureau on Oct. 8, 2021.
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HECM loans have a loan limit of $1,149,825, therefore you may notice that home values above $1,149,825 do not increase the loan estimate amount shown on our calculator. An AAG reverse mortgage professional can provide you an individualized consultation based on your particular situation and retirement goals.
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