Sometimes, a reverse mortgage can be a good thing. My old parents both had declining health in their later years(both were in their 90's), and could barely take care of themselves. My Sister set them up with a reverse mortgage that allowed them to stay in their home and paid for a team of really nice ladies who took excellent care of them 24/7 during the last 2 or 3 years of their lives. They didn't want to be stuck in some Senior care facility where the prices would have been ridiculous to get the quality of care these ladies gave them. When they passed, we sold their home, paid the bank about $40,000, and still had enough left over for a nice inheritance. In their particular case, being able to live out their days at home was much better....and probable cheaper, than a good senior care facility. One of my old Aunts, in Denver, is at a top tier senior center, and she is paying about $70K/yr. to stay there.