Here's the Rub --- Although these payments to you will help with your finances, at the end of the term of the loan, the loan principal and interest are due! You never get something for nothing! As a general rule, however, your reverse mortgage doesn't have to be paid off for as long as you live in your home. The loan generally comes due only when you sell your home (or your home is sold after you die.) Before you sign a contract CHECK the repayment conditions. In some cases at the end of the term of the loan, if you are unable to repay the loan you can face foreclosure on the property so taking out a reverse mortgage should be done with extreme CAUTION -- AND with a sound financial institution!

• "Home Keeper" new mortgage program --The Federal National Mortgage Association, also know as Fannie Mae, is beginning to offer its own reverse mortgage program. (Fannie Mae is a giant, publicly held company, chartered by Congress, that buys mortgages from banks and other lenders.) Because the program is new, the program is available now only in certain areas. Presently, about 250 lenders have expressed interest in offering "Home Keeper." For a free brochure on the "Home Keeper" reverse mortgage call Fannie Mae at (800) 732-6643.