Misperceptions about reverse mortgages are rampant and most date back to types of reverse mortgage loans that have not existed for over a decade. One of the most common errors made in media reports are that upon getting a reverse mortgage the borrower loses ownership of their home. Nothing could be further from the truth. A reverse mortgage is simply a lien against the property like any other mortgage, home equity line, etc.. Kudos to Kipplinger for giving an accurate and easy to understand explanation of how a reverse mortgage works and how it affects heirs: http://www.kiplinger.com/article/retirement/T021-C000-S004-what-heirs-need-to-know-about-reverse-mortgages.html