9. Are there restrictions on how I use the money I receive from the reverse mortgage? There are NO restrictions on what you can use the money for. Once you existing liens and any fees associated with the loan are paid-off you can use the money for whatever you want, including, but not limited to the following: 1.    Pay other bills or pay-off debt. 2.    Help a grandchild pay for college. 3.    Help your children with a down payment for a home of their own. 4.    Pay medical bills. 5.    Take a vacation. 6.    Make necessary improvements or repairs to your home. 7.    Buy a new or used automobile, or fix the one you have. 8.    Have funds available in case of an emergency   Back to "Top Ten Things to know if you're interested in a reverse mortgage".       Home | About your credit rating | Real estate services | FAQ | Contact us Apply Online | About us |Privacy| Security | Licensing | Tools & Calculators Foreclosure | Credit Lines | Interest rates | Programs | News | Careers Newport Bay Mortgage, Inc. 800-779-2200    Newport Bay Mortgage, Inc. and its subsidiaries are Equal Housing Lenders. ©2005 Newport bay Mortgage, Inc. and Newport bay Realty. Trade/Service marls are the sole property of Newport Bay Mortgage, Inc. and or its subsidiaries. All rights reserved. If you use pop-up blocker, you should disable it while using our sites. If you have cookies disabled, you may need to enable them. Please read our privacy and security policies prior to entering any of our sites. Newport Bay Mortgage, Inc. and Newport Bay Realty are licensed with the California Department of Real Estate. ã All Rights Reserved. Copyright 2005