The amount of the reverse mortgage loan is also determined by the youngest person who owns the home, so a 70-year-old person who is co-owner of a home would lower the amount her 75-year-old spouse would otherwise get.

FORBES: Intelligent Investing Panel

One drawback of a fixed-rate reverse mortgage is that you have to draw down the entire loan amount up front and pay interest on the entire amount across the life of the loan.

WSJ: Reverse Mortgages Now Look Cheaper

Reverse mortgage consumers struggle to understand how interest gets compounded on a loan that does not involve monthly payments on interest and principal.

FORBES: CFPB: Don't Get Stung By A Reverse Mortgage