<prompt> Human: Can someone give me a basic explanation of a reverse mortgage? My in-laws 65 year old are looking to sell their 600-700k house and will walk away with 300-350k in cash.The houses they are looking at are just a little bit out of reach: 350-400k.Their lender recently proposed they look into a reverse mortgage, but I feel uncomfortable about it. In all fairness, I dont know a lot about it and have been doing some research. My basic understanding is that the bank effectively is going to slowly end-up owning the house be the end of the term of the reverse mortgage... but Im not entirely sure if thats correct.  <response>: My basic understanding is that the bank effectively is going to slowly end-up owning the house be the end of the term of the reverse mortgage... but Im not entirely sure if thats correct.Thats basically it. You are buying an annuity with the equity of your house. 