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Eldergays, did any of you do a reverse mortgage?

If so, would you be willing to share the circumstances that led to you considering one and how (so far) it has worked out for you? My mom is going to be retiring sometime in the next few years and with my dad's recent passing, I've been helping her out with several things -- including consultations with certified financial planners. One CFP mentioned that a reverse mortgage MAY be one of the scenarios she'd help my mom map out for how she could remain in her current home at retirement and maintain positive cashflow. Her house is estimated to be worth about $1.3 million (though, here in crazy California, its value will likely be higher when she retires in 3-4 years) and her she owes $375k on the mortgage.

I should note, the CFP said that, generally, she doesn't recommend reverse mortgages, but in some cases, depending upon the client's personal circumstances, it can be a viable option worth considering.

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