A Reverse Mortgage is a special HUD Insured loan program available to Senior American Homeowners to convert equity in their homes to cash. To qualify for a Reverse Mortgage you must be 62 years of age or older and own your own home. A reverse mortgage gets its name because the payments are "reversed" from the lender to the borrower. The borrower does not have to pay the money back while they live in the home. Instead, the loan must be repaid when the borrower passes away or sells the home. Reverse Mortgages can help homeowners who have substantial equity but little cash stay in their homes and still meet their financial obligations.