Reverse Mortgage Help

Reverse mortgages have improved life for "house rich, cash poor" people such as Gerold and Liz Gardner, who celebrates her 78th birthday next week.

"There was money just sitting there, and I couldn't get to it without leaving the place," said Gardner, who took out a reverse mortgage on her New Hope townhouse. "But I don't want to leave."

Now, Gardner gets about $800 each month from the 10-year reverse mortgage on the home, which she said she bought 25 years ago for $79,200 and is worth about $350,000 today.

With it, she has put a new roof on her house, repainted the interior and paid for about $3,000 worth of dental work.

"It really has been a lifesaver," Gardner said. "I think it's a huge benefit for seniors."