Reverse mortgage in economics and finance

Hello everyone! Today, we're going to embark on a journey into the realm of reverse mortgages. A reverse mortgage is a financial arrangement that allows homeowners, typically seniors, to convert a portion of their home's equity into cash. Unlike traditional mortgages, where borrowers make monthly payments to the lender, in a reverse mortgage, the lender makes payments to the borrower. This unique feature makes it an intriguing topic in the world of finance.