Why U.S reverse mortgage graph is on top?

Now days in USA the graph of reverse mortgage is increasing and People are choosing reverse mortgage despite the factors of declined in the US economy. Reverse mortgages are not for everyone this special type of mortgage is only allowed to the people of age 62.it’s a best option for the retired persons because when you are retied and want to get the peace of life without any problem then it’s a best option. They often require you to stay in the house, which will not allow you to move if you wanted to. Also, you will want to make sure that you time your reverse mortgage correctly and not outlive the monthly payments, because if you do, you won't even have the equity of your house to fall back on. That is why you must be at least 60 or 62 years of age to apply for a reverse mortgage loan. If you are lacking funds but have a lot of money tied up in your house, you may be considering a reverse mortgage. In some situations reverse mortgage can be a good option. But before taking the plunge and stripping your house of equity, you will want to find out more about this product and its advantages and disadvantages.

A reverse mortgage services gives you the following advantages and need:
1. Reverse mortgage allows the owner of a house to continue living in the house, while gaining cash from the equity of the house. If you take out a reverse mortgage on your home, you receive tax-free monthly checks as if the bank was buying back the house from you.
2. Counseling must be required from a qualified HUD-certified counselor before you go through with it. Regardless of whether or not it is required, you would benefit from meeting with a third-party that can show you the benefits and downsides of such a process.