Is a Reverse Mortgage Right for You? Pros, Cons, and Alternatives

Alternatives to Consider

Before you commit, compare your options:

1. Home Equity Line of Credit (HELOC) – Lower fees, more flexibility.
2. Refinancing to a lower mortgage rate – Reduce monthly costs.
3. Downsizing – Sell your home, buy smaller, and pocket the difference.
4. Senior housing grants or programs – Available in many states.
5. Part-time income streams – Remote work or rental opportunities.

Each alternative has trade-offs, but they may provide more control or better inheritance potential.