Contact Us Send us your questions and comments. Web Resources Link to other information. A reverse mortgage is a loan against your home that you do not have to pay back for as long as you live in your home. With a reverse mortgage, you can turn the value of your home into cash and not have to make monthly repayments. The total loan must be paid back when the last surviving borrower dies, sells the home, or permanently moves away.
Reverse mortgages are quite a bit different from other types of debt.
These loans can be complicated, and you have a lot at stake. So be sure to investigate reverse mortgages carefully before deciding if one makes sense for you. AARP recommends you read the pages in the order numbered below. At the bottom of each page you will find a link to the next recommended page. Each page also links to a glossary that defines unfamiliar words.