Best and worst ways to use a reverse mortgage loan

1

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation for .

Reverse mortgage loans allow seniors to borrow against the equity in their home and get a lump sum, line of credit or monthly payments as long as they own and occupy their home. The opportunity is attractive to many.

But is it smart?

The answer depends largely on the homeowner’s financial situation. What’s smart for some might not be so for others.

Following are ways to use, and not use, a reverse mortgage loan.