The simplest way to begin to understand the concept of a Reverse Mortgage is to eliminate the modifier from its name.

...if you were previously denied a reverse mortgage because your existing mortgage balance was too high, you may now be able to qualify...

HECM proceeds cannot be used to pay off debts in order to qualify. PERL proceeds can.

Lenders and financial advisors are paid to be biased, the former towards a reverse mortgage and the latter towards anything else.

What if your credit line disappears right when you need it, like during a crash in housing prices? And how do you handle the payment shock?

There is no getting around the fact that a reverse mortgage (HECM) can be an expensive loan.