In layman's terms, please explain a reverse mortgage.?

An elderly family relative is living on a reverse mortgage. I want the truth about how these work, what are the pro's and con's. I have asked on other boards and only get mortgage people praising them. I want to know how they work, what happens to the person when they die, what happens to the property... show more An elderly family relative is living on a reverse mortgage. I want the truth about how these work, what are the pro's and con's. I have asked on other boards and only get mortgage people praising them. I want to know how they work, what happens to the person when they die, what happens to the property especially if it is very neglected and needs major work, and who is left with the property and/or debt. Thank you.
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