U.S. News & World Report

For seniors with little cash and lots of value socked away in their home, the reverse mortgage is rapidly gaining popularity as a way to raise money without having to move.

From July 2005 through March of this year, the federal government insured 48,088 reverse mortgages, up more than 20,000 from the previous year. And in May alone, a record 8,414 reverse mortgages were approved.

Essentially, seniors are borrowing against the value of their homes without needing to pay the money back until they move out or die. read more...