Many people are emotionally tied into their homes. As they get older, their earnings potential declines but they want to maintain their quality of life. That's where a reverse mortgage can help. Rather than doing the rational thing - selling their home while investing the proceeds, a reverse mortgage allows them to eliminate their mortgage payments while still living in their home and thus cut their monthly living costs. It's a good idea to go over this scenario with a financial advisor or accountant to see if it makes sense for you.