Terry Savage gives us information on reverse mortgages.

To get a reverse mortgage you (and your spouse or co-owner) must be at least 62 years old. But it's best to wait to make the move until you're at least in your 70s because the amount of money you can receive each month -- or in a lump sum -- is determined by the value of your home, your age and the current level of interest rates. The older you are, the more money you'll receive.