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The answer to this question is largely dependent on your needs, values and other options.
A Reverse Mortgage may be worth doing if you need to eliminate mortgage payments or otherwise gain access to money for retirement AND you would strongly prefer to stay in your home vs downsizing.
You might benefit from some of our online content:
-- Reverse Mortgage Pros and Cons: http://www.newretirement.com/reverse-mortgage/reverse-mortgage-disadvantages-advantages.aspx
-- Reverse Mortgage Calculator: https://www.newretirement.com/Services/Reverse_Mortgage_Calculator.aspx
-- Explore Alternatives to Reverse Mortgages: http://www.newretirement.com/Services/Home_Equity_Solutions_Advantages_Disadvantages.aspx
-- Guide to Reverse Mortgage Costs: http://www.newretirement.com/reverse-mortgage/reverse-mortgage-interest-rates.aspx
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.