Is, a reverse mortgage, a good idea?

Answer 1

It depends. How old are you? What is your motivation? How much equity do you have in your house? Do you have good access to credit?

Advice: speak to a financial advisor for detailed analysis and advice

Answer 2

A reverse mortgage is for homeowners who have paid off, or nearly paid off their home and own it outright. Then you receive monthly payments from the equity of your house, like a second income. It is usually for older people with limited income who need more money than they are getting on social security or their pension.