Banks are happy to lend you money against your home, not ask for any payments and collect only when you die or move form your house. What a deal!

Reverse mortgages can be a fantastic way for seniors (must be age 62+) with home equity to use that equity to increase income. The equity in your home is like a bank account paying you zero interest. Why not use that asset to live more comfortably?

Additional information:

From AARP http://www.aarp.org/revmort/
From the Federal Trade Commission http://www.ftc.gov/bcp/conline/pubs/homes/rms.htm

For a lender near you, visit http://www.reversemortgage.org/LocateaLender/tabid/255/Default.aspx.
Have them give you details and answer your questions