Like a conventional mortgage, a reverse mortgage loan enables

homeowners to borrow money while using their house as security for the loan

Similar to a conventional mortgage, the title to your property

is kept in your name when you take out a reverse mortgage loan.

With a reverse mortgage loan, borrowers do not make monthly mortgage payments

in contrast to a conventional mortgage. When the borrower vacates the property

 the loan is paid back. Each month, fees and

interest are added to the loan sum, which causes it to increase.