A reverse mortgage is a unique type of loan which enables you to access the equity in your home. You can choose to receive cash, a tax-free monthly income and/or line of credit. You make no payments as long as you occupy your home therefore there are no income or credit qualifications to worry about and there are no monthly payments to make.

The proceeds from a reverse mortgage can be used for anything: daily living expenses; home repairs and home improvements; medical bills and prescription drugs; pay-off of existing debts; education; travel; long-term health care; retirement and estate tax planning; and other needs you may have.

Here are a few questions to ask yourself:

• Could you use extra cash to consolidate debts or to supplement your monthly income? • Do you have equity in your home? • Would you like to not have to make mortgage payments in the future? • Do you want to remain living in your home for as long as possible?