Discuss Jessica David's answer to: What is reverse mortgage.

A reverse mortgage is a form of equity release (or lifetime mortgage). It is a loan available to home owners of retirement age, enabling them to access a portion of their home's equity. The home owners can draw the mortgage principal in a lump sum, by receiving monthly payments over a specified term or over their (joint) lifetimes, as a revolving line of credit, or some combination thereof. (i.e., into aged care). (for more, visit en.wikipedia.org/wiki/Reverse_mortgage)