The reasons seniors get reverse mortgages vary tremendously, but most of the time it comes down to a need for more retirement funds. Those whose retirement savings are not supporting their expanding health needs often turn to the equity held in their homes in order to be able to afford the care they need. A reverse mortgage comes with a significant risk of foreclosure if you are unable to keep up with the property taxes associated with your home, so reverse mortgages should be entered into only with careful consideration.