1.   And since the effective cost of a reverse mortgage decreases the longer it is held, she said, the form reflects different costs for different time periods.

2.   And just what are those newfangled reverse mortgages?

3.   Because such factors must be considered, Ms. Barriere said, borrowers must attend counseling sessions before being approved for a federally insured reverse mortgage.

4.   BNY Mortgage Co., an affiliate of the Bank of New York, was among the first to offer reverse mortgages in the New York metropolitan area.

5.   A dozen years after their introduction, reverse mortgages remain little known, and perhaps less understood.

6.   A monthly income-for-life plan combines a reverse mortgage with a deferred annuity.

7.   A reverse mortgage is a bank loan on the value of your house.

8.   A reverse mortgage lets seniors like Bishop borrow against the equity in their homes.

9.   A reverse mortgage converts home equity into cash with no repayment for as long as borrowers live in their homes.

10.   But many planners frown on taking out a reverse mortgage to finance retirement.