Reverse mortgages have grown into a $20 billion a year industry with elder homeowners taking out more than 132,000 loans in 2007, an increase of more than 270% from two years earlier. Many borrowers say such mortgages have improved their lives and provided money for retirement and long-term care expenses. Making the decision to take out a reverse mortgage is complicated. Some elders have complained about high–pressure or unethical sales tactics. There are substantial initial fees associated with these loans that many borrowers are not made aware. Some sellers of reverse mortgages have urged buyers to use loan funds to purchase other financial products, like annuities. If you are considering a reverse mortgage or have questions or concerns about the loan you currently have, we are available to counsel you on your options.