With Reverse Mortgages the money could be used for any purpose, such as:
- Eliminate existing mortgage loan payments
- Payoff credit card debt
- Supplement retirement income
- Help pay for medical and prescription expenses
- Pay for in-home care, long term care insurance, Medicare supplement
- Use funds for home repairs or modifications
- Use for wealth redistribution, estate planning or make a living charitable donation
- Lifestyle enhancement
- Travel