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Because of the complexity of Reverse Mortgages - counseling is required before a homeowner can take out this type of loan. The writer of this article failed to mention this at all. I am a counselor in NC - where counseling is required face to face. I do not try to talk seniors into or out of taking a reverse mortgage. I make sure they have all the information so they fully understand their options and choices so they can make a good decision for themselves. A reverse mortgage is not for everyone - but it is a viable option for many seniors as a way to remain in their own homes. I would say that in my 10+ years of counseling - that only about 2% of my clients were interested in taking out a reverse mortgage for "luxory reasons". Most seniors today are using a reverse mortgage to pay off their current mortgage so they no longer have a monthly payment. With daily expenses going up and their monthly income decreasing, making a mortgage payment is very tough. Reverse Mortgages aren't a scam. But some of the lenders, etc. are attempting to push seniors into taking out this type of loan and making promises or glossing over important details. Seniors must be careful to make sure they have all the facts - that is why the counseling is so important!