A reverse mortgage basically allows you to borrow against the value of your home. You'll receive either a lump sum or a regular monthly payment. Your obligation to repay the loan kicks in when the following happens: you die, sell your home or leave it (to go into aged care for example). Then, you or your estate has to repay the debt (including interest), usually out of the sale proceeds of your home. The amount you can borrow depends on your age and value of the property. Your Home Loans Canberra Consultant will be able to go through the pro's & con's so you can decide if a reverse mortgage is for you.