Reverse mortgage is a loa against a home that the owner does not to pay back for as long as he/she lives there. In general mortgage, you take a loan from banks or housing finance companies (HFCs) and mortgage the property with them. You pay monthly instalments to repay the loan and free the property. Here the situation is exactly opposite. Banks and HFCs pay you monthly instalments and they get the property after the tenure, unless the heir of the borrower pays back the loan after his/her death.