Key features of a reverse mortgage

You don’t have to move. You can tap into your home’s equity and still keep your current home.
You don’t have any monthly mortgage payments. The loan is repaid when the last surviving spouse moves out, sells or dies.
You can get money in monthly installments, as a lump sum payment, as a line of credit or a combination of the three. You can use the money however you like, including paying off bills, renovating your home or to cover medical expenses.
Costs with such loans can be s