Reverse Mortgages The Reverse Mortgage (RM) is more popular than ever. It is now considered a retirement tool of the 21st century. A reverse mortgage allows you to access the equity in your home and your home always remains in your name. Once you reach age 62, you are eligible to apply for a RM. The RM allows you to increase your cash flow during your retirement years. The RM pays off any unpaid mortgage amount, and provides a monthly deposit to your account for the rest of your life. Paying off the unpaid mortgage balance improves your cash flow immediately. Another option is to have a line of credit for a set amount and a monthly deposit. A final option is a lump sum payout. The RM gets paid off if and when you ever sell your home. Contact VP Pat O’Donnell to discuss this option and how it could work for you (484-337-8605). mailto:odonnellp@mlhcu.org