 TITLE: Is a Reverse Mortgage Right for You? CONTENT: When a Reverse Mortgage Is a Good Option\n----------------------------------------\nFor homeowners who qualify, there are a few situations where a reverse mortgage might be worth considering.\n*   **It can help solve financial problems.** Even if you don't have a mortgage payment, retirement can be expensive. Average health care expenses alone for a retired couple amount to $285,000, according to Fidelity Investments, and that's not including long-term care. Through a lump-sum payment or ongoing monthly payments, a reverse mortgage can provide retired homeowners with some extra cash flow to help stay afloat financially.\n*   **You can't afford a monthly payment.** Another way to gain access to your home's equity is through a home equity loan or line of credit. If you need cash but can't afford a monthly payment, however, those may not be good options.\nOn the flip side, a reverse mortgage won't require you to make monthly payments on the debt you've incurred. You will, however, still be required to pay your property taxes, your homeowners insurance premiums and any other ongoing expense the lender requires.\n*   **You're not looking to maximize the value of your estate.** If you and your spouse—if they're also a borrower or an eligible non-borrowing spouse—die, payment on the loan will come due, and your estate will need to settle the amount owed. This often means that your loved ones will need to sell the home to pay off the loan, leaving them without that amount as part of their inheritance. If that's something you want to avoid, a reverse mortgage may not be for you. But if providing a large inheritance isn't in your game plan, a reverse mortgage is worth considering. END