One thing I always encourage people to do is seriously consider the alternative of selling and moving before doing a reverse mortgage.
The older you are, the more money you can get because life expectancy is shorter.
A reverse mortgage is the true home equity loan.
If you're only going to be in your home a couple of years, the cost of this loan is very, very high.
If you owe money on the house you can use part of your reverse mortgage to pay off your current debt.