A Reverse Mortgage is a unique loan that allows you to access a portion of your homes equity. These loans are designed for older homeowners and do not require monthly mortgage payments. Reverse mortgages allow elders to access the home equity they have built up in their homes now, and defer payment of the loan until they die, sell, or move out of the home. A reverse mortgage, is a non-recourse loan. In simple terms, the borrowers are not responsible to repay any loan balance that exceeds the net-sales proceeds of their home.