The CFPB admonishes consumers to consider alternatives to a reverse mortgage: refinancing a traditional mortgage, opening a home equity line of credit (or HELOC), applying for property tax credits or property tax deferral programs, downsizing or moving in with relatives.

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

That's in part because with a reverse mortgage, the unused portion of the line of credit grows bigger over time.

WSJ: Rethinking Reverse Mortgages, Part 2: Pitfalls and Dangers

While most HECM reverse-mortgage options carry adjustable rates and offer a line of credit or annuity-like payouts over time, the sole fixed-rate HECM choice is available only with a lump-sum payout.

WSJ: Rethinking Reverse Mortgages, Part 2: Pitfalls and Dangers