With a reverse mortgage, you might say that after a lifetime of making payments, that turnabout is fair play.
Would you like to keep your current home after you retire but think you can’t afford it? If you are 62 or older, there is a choice you might like to explore. It’s called a reverse mortgage. This type of mortgage is growing in popularity as members of the baby boom generation near retirement. It allows you to tap the inert equity in your primary residence as a source of income. How you spend that money is up to you.
AARP has an article with some basics about this mortgage option.