Reverse mortgage are becoming increasing popular mortgage option among a wide section of the public. It allows a household to use the equity which is built when the mortgage payments are made. The only difference is that here the payments are made to the household, hence the term ‘reverse mortgage’. There are no mortgage payments to be made from the senior homeowner. The program was designed specifically for seniors to utilize while in retirement. The program is very popular with some 100,000 seniors using this program to fund their retirement every year.