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The problem was that their monthly expenses were more than their income, and we had already cut their expenses every way we could think of. There still wasn ' t enough money to meet their monthly expenses. But then we stumbled on a program that could solve my parents ' cash flow problems: a reverse mortgage.

If you ' ve never heard of a reverse mortgage you ' re not alone. They are not designed for the average person. But they are perfect for people like my parents.

Basically they are designed to help older homeowners with low incomes stay in a house they have lived in for years but for which the property tax has risen more than they can afford.

A reverse mortgage allows a homeowner to cash out part of the equity in their home without having to pay it back until they sell the house, permanently move out, or die. The amount you can borrow depends on your age, the value of your home, your current equity, and the current interest rates.