Who would do a reverse mortgage?

Studies show just about anyone sixty two and older might do a reverse mortgage. Seniors of all income and asset levels are doing reverse mortages. They use the extra money for home repairs, paying off other debts, buying cars, or traveling. One couple wanted to buy a RV and travel at the same time while keeping their home, both without a monthly payment. It gives you peace of mind knowing you can stay in your home as long as you like without the financial burden of a mortgage payment.