What are "reverse mortgages" and how do they work?

What are "reverse mortgages" and how do they work?

Something along the lines of you have equity in your home. You basically borrow against the equity in lumpsome payments. I don't trust all the stuff they tell you about "freeing" yourself financially. Basically you are putting yourself in debt what you already should have as a gain. Don't listen to the beautiful picture they paint! I used to work in the financial world and for a large bank. It's a way for the banks to keep making money is all!!!