Do you have less costly options?

Do you have other financial resources that you could use instead of taking out a loan? If you don’t, and if you could easily make the monthly repayments on a home equity loan or home equity line-of-credit, these alternatives are much less costly than a reverse mortgage.

Many state and local governments offer very low-cost loans for paying your property taxes or making home repairs. Have you checked at www.aarp.org/quicklink to see if you are eligible for federal, state, local and private programs that help pay for prescription drugs, utility bills, meals, health care and other needs? Have you seriously looked into the costs and benefits of selling your home and moving to a less expensive one? You just might find that you may prefer living somewhere else with lower costs or more services.