Who this is for:

A reverse mortgage can be a great option for seniors and retirees who want to tap into their home equity without moving. It's available to those over 55 and can help provide financial stability so homeowners can maintain their quality of life.

Seniors can use the funds to supplement retirement income, pay for medical expenses, or make home improvements. Unlike traditional mortgages, a reverse mortgage doesn't require monthly payments, and there's no need to worry about running out of savings.