Reverse Mortgages are the most misunderstood loans available today. Reverse mortgages are not either terrible or the perfect answer.
It depends on the individual’s needs. For many people they are perfect and for others they are a bad fit. What they can do is allow for the borrower to live in their home with no mortgage payment.
The borrower still needs to pay taxes and insurance but no principle and interest payment. Remember good for some not so good for others.