 TITLE: What Is the Downside of a Reverse Mortgage? CONTENT: Reasons Why a Reverse Mortgage Might Not Work for You\n-----------------------------------------------------\nIn addition to its downsides, there are three examples of when a reverse mortgage might be totally out of the question:\n1.  You want to move fairly soon. Timing is important when it comes to taking out a reverse mortgage. If you're looking to relocate in the next few years, it might not be wise to saddle yourself with a reverse mortgage. Why? You're required to pay off the loan when you move out. Reverse mortgages are geared toward homeowners who plan to stay put for quite awhile.\n2.  You can't handle the costs. Closing costs, maintenance expenses, homeowners insurance and property tax bills could strain your already stretched budget. Worse yet, a lender might tell you to pay off the loan right away if you've fallen behind on paying your homeowners insurance or property taxes.\n3.  You hope to pass along your home to your heirs. A reverse mortgage can complicate matters if you leave your home to your kids or other heirs. For instance, what if your estate lacks the money to pay off the reverse mortgage loan? You heirs might have to scrape together the cash from their savings or sell the house to pay off the loan. END