Reverse mortgages have several benefits if you are willing to look beyond the risks. There are different types to fit a host of needs and situations. These programs can be quite beneficial to homeowners aged 62 and over, in need of a lump sum of cash or a steady income over a period of time. Just bare in mind, a reverse mortgage is actually a loan against your property. Your loan amount, along with interest calculated over time, will be due at the end of the term. Everything works out fine, as long as the sale of the home can pay the reverse mortgage debt. Needless to say, careful consideration of needs and close review of loan documentation is highly recommended.