In today's economy, many retired homeowners need some additional income.

There are hundreds of thousands of older homeowners across the country who are getting by on less income than they would like. Most of these people are strongly independent. They do not want to become a financial burden on their children or other family members - and they definitely don't want to apply for assistance. They want to be able to enjoy their retirement and still be self-sufficient.

Others just want to take advantage of an additional source of money to enhance their retirement years. The growing popularity of this program is evidence of its benefits in a wide variety of financial circumstances.

How does a Reverse Mortgage work? A Reverse Mortgage (or "Home Equity Conversion Mortgage") will provide additional cash to a homeowner, either as a monthly income payment or as a lump sum. The amount you receive is based on the homeowner's age and the value of the home. It is a special kind of loan that allows you to borrow against your home without making a house payment for as long as you own and live in your home..

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