Yes.  There are three ways to receive money from a reverse mortgage, a lump sum, a monthly payment (to you),

Line of credit draws are typically done by mailing or by faxing a request form signed by the borrowers. The

Yes.  Just like all other traditional loans, you still own your home, and have complete control over it. The reverse

The U.S. Dept. of HUD insures reverse mortgages and for that they charge a fee at closing. For this fee,

No, because a reverse mortgage is a loan, you are only borrowing against the equity in your home. This is

Similar to all other types of home loans, with a reverse mortgage you retain title and control of your home. 

Yes.  However, any existing mortgages or liens on your home must be first paid off with the reverse mortgage proceeds