 TITLE: What Is a Reverse Mortgage? CONTENT: What Are Reverse Mortgage Advantages?\n-------------------------------------\nA reverse mortgage offers several advantages for people who are retired and need extra income.\n*   Home equity is more accessible to retirees than many other types of financing. Many seniors don't have enough income to qualify for loans that require immediate repayment, such as a home equity line of credit or a second mortgage. It's easier to qualify for a reverse mortgage.\n*   As long as you are living in your home; keeping current on property taxes, homeowners insurance and other associated home expenses; and maintaining the home in good condition, you won't have to repay the loan.\n*   Because the IRS classifies the payouts as a loan advance, a reverse mortgage offers tax-free income in most cases (although you should always consult a tax professional to be sure how taxes apply in your situation). END