Home equity loans or line of credit are a lot less expensive than reverse mortgages. Reverse mortgages orginated as a product of the payday loan industry .... which should be a warning for homeowners. So many older people have gotten into trouble with the lure of money for their home not realizing the price they are paying in the long run. Reverse mortgages benefit those who know how long they have to live and need money now. Their "promises" are just the bait .... be aware!