Contrary to popular belief this reverse mortgage program is safe and insured. It has been in existence since 1987 and a bill to protect borrowers was finally signed on Jan 1, 2016 which became more effective and even more secure. Reverse mortgages allow homeowners who are over the age of 62 the ability to have more disposable income and as for living in one of the most expensive states in the country this has been a tremendous help.