A Reverse Mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home into cash without having to move or to repay the loan each month. The cash you get from a Reverse Mortgage can be paid to you in several ways :

All at once, in a single Lump Sum of Cash;
As a regular monthly Cash Advance;
As a "Creditline" account that lets you decide when and how much of your available cash is paid to you; or
As a combination of these payment methods.

These Loans are designed for people age 62 and older who own their homes and need an inflow of cash.