Some people think a Reverse Mortgage can only provide additional monthly income for seniors utilizing it. But that's not true. Many of our clients use a Reverse Mortgage to establish a liquid resource they can access in case of an emergency. This resource is called a HECM (Home Equity Conversion Mortgage) Line of Credit. Rathering than immediately borrowing the proceeds available through a Reverse Mortgage, they can instead be designated to a Line of Credit - which can be drawn on as needed by the owner of the Reverse Mortgage. The other feature of a HECM Line of Credit is that it continues to grow in access to funds over the life of the Reverse Mortgage - growing at a rate 1/2 percent greater than the note rate of the Reverse Mortgage. The added growth feature of a HECM Line of Credit makes this a particularly valuable tool for incorporating housing wealth into a retirement strategy. Of course, the normal terms and specifications of a Reverse Mortgage do apply, including (but not limited to) that the borrower must pay all property taxes, homeowner's insurance premiums and homeowner association dues on time and must maintain the property in accordance with FHA requirements.