Don’t be suckered into buying a reverse mortgage
Advertisements make them sound tempting but reverse mortgages can put your retirement at risk
Consumer Reports. Pretty trustworthy.
A better option may be a traditional HELOC.
Home Equity Line of Credit.
This allows you to borrow up to 50% of the equity in your home. And pay back interest only payments.
Please know the interest only payment is for 10 years. Then you have to start a principal/interest repayment on the balance. Which means your payments will go up. a lot.
But for 10 years - you can borrow and repay on this Line of Credit. The rates are good and the interest only payments are easy on the budget.
But as I say - after ten years - this becomes a traditional mortgage loan with a set repayment. If at that time you are maxed out and cannot repay - you sell the home. Or else.