Many young borrowers are taking out reverse mortgages for the wrong reasons—not to live out their final year in comfort in their family home but because they need cash. These people are the "Leading edge baby boomers, aged 62 to 64", according to
Forbes on-line.
Did you know that Reverse mortgages are so complicated that would-be borrowers have to go through counseling (mandated by Congress) before hocking their house.