Reverse mortgage has gained the attention of many these days as a potential source of financial stability as the stock market plunge and the 401(k)s shrink away amid the coronavirus outbreak.

A part of the new appeal in this type of loan has been the rising equity that seniors have in their homes. The NRMLA or National Reverse MortgageLenders Association said that homeowners who are at least 62 years old aw their housing riches increase by $39 billion for the 3rd quarter to the 4th quarter of 2019, which set a record level of a whopping $7.23 trillion at by the end of the said year.