Helped my elderly parents into a reverse mortgage a few years ago near the peak in house values. As I now unwind the transaction on selling the house a few observations.
I don't think Mom and Dad ever really understood how it really worked.
It was a good thing for them as they got to spend $150K on themselves and their expenses.
The variable interest rate is really low right now. I think just below 1%. Obviously could have gone the other way.
The fees getting in are obscene. More like an insurance policy against a bad guarantee by the feds.
Not for everyone but it worked for them when they were at home.
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