The lender will own my home if I take out a Reverse Mortgage.
- Not true. The homeowner retains title to their home throughout the life of the Reverse Mortgage.

My heirs will be responsible for repayment of the Reverse Mortgage.
- False. The Reverse Mortgage is a non-recourse loan. The lender can only look for repayment from the sale of the property, although the repayment may be made from any other source and your heirs may keep the home. The lender cannot look to the estate for repayment of the loan.

Your home must be debt free to qualify for a Reverse Mortgage.
- Not correct. You may have a mortgage or other debt on your home. The mortgage or debt, however, must be paid off first with the proceeds of the reverse mortgage.

Only those with excellent credit, income and/or health can qualify.
- Also incorrect. There are no credit, income or health requirements for a Reverse Mortgage. The only requirements are that you be at least 62 years of age, that the home be your primary residence and that you have equity in the home.

I will need to make monthly payments on the Reverse Mortgage.
- False. The homeowner is only responsible for paying the taxes, insurance and upkeep of the home. As long as the home is your primary residence you will never have to make a payment.

Only the "cash poor" or desperate senior citizens can benefit from the Reverse Mortgage.
- Even though some seniors may have a greater need than others for the cash or monthly income, the Reverse Mortgage can also be an excellent financial or estate planning tool.