Its a mortgage like any other, to make money for the bank. The bank makes that money from the equity from your property instead of regular interest. That percentage of equity goes to the bank, not you. Might be better to sell the property and downsize, keeping that equity for you self. My folks took out a reverse when they ran out of money for retirement. They missed the real estate market back in 07' 08' when they had offers of over $1.5 mil. Mom wanted to sell , step dad didn't. They ended up with about $400k after it was said and done.
Ya gotta know when to hold em' and when to fold em'.

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