They are essentially home loans for homeowners ages 62 and older, and like any loan, there are pros and cons of reverse mortgages. (americanadvisorsgroup.com)
Reverse mortgages allow homeowners age 62 and older to convert a portion of their home equity into tax - free loan proceeds that can be used without restriction. (reverse.mortgage)
The number of homeowners ages 65 and older who are carrying mortgage debt into retirement has increased by 8 % since 2001. (dailytradealert.com)