A "reverse mortgage" is a loan usually used by older borrowers as a way of converting the equity in their home into a cash payment (or series of payments) while retaining ownership of their property Unlike an ordinary mortgage, which involves payments by the borrower to the lender, a reverse mortgage provides for payments by the lender to the borrower. Generally, no payments are made on a reverse mortgage until the borrower moves, dies or the property is sold. A reverse mortgage is a vehicle where an older borrower can tap into the equity in their home.