 TITLE: What Is the Downside of a Reverse Mortgage? CONTENT: Alternatives to a Reverse Mortgage\n----------------------------------\nWhile a reverse mortgage may not work for your situation, don't give up hope—it's not your only option for generating cash or saving money. Here are four alternatives:\n1.  Refinance your existing mortgage. If you do a cash-out refinance, the money you gain from refinancing your current mortgage might be enough to pad your income.\n2.  Sell and downsize. Selling your home at a profit and relocating to a smaller, less costly space could be the answer to your budget woes. You might even opt to rent a place so you can avoid the hassles of homeownership.\n3.  Take out a home equity loan or a home equity line of credit (HELOC). A home equity loan or HELOC might be a less costly way to tap into your home equity. However, you must make monthly payments if you pick either of these options. Plus, unlike a reverse mortgage, you'll be subject to income and credit requirements.\n4.  Look at other resources. Do you have some stock you could sell? Can you cash out a life insurance policy that you don't need anymore? Examine various financial options that don't involve jeopardizing ownership of your home. END