A reverse mortgage is a loan against the equity in the home you own that provides tax-free cash advances, but requires no payments during the term of the loan. You can also purchase a home with a reverse mortgage. When my father wanted to move from one home to a smaller one it seemed like an overwhelming process to sell, identify a new home, and time the moves simultaneously. This kind of move created a lot stress and anxiety for my Dad. Instead, using a reverse mortgage, he was able to purchase a new home with no monthly payments due. He leisurely had the home painted and prepared as his own pace. Once he was settled in his new home he was able to sell his previous home and replenish his down payment funds with the proceeds of the sale.
The Delayed (Starker) Tax Deferred Exchange is one of the finest opportunities for mature clients to optimize the return on real estate investments and move their equities with them when they retire of move.