Reverse mortgages are a versatile financial tool that over 1.2 million homeowners have used to enhance their retirement years. However, like any financial product, reverse mortgages should be considered carefully before deciding whether to obtain one.

The National Reverse Mortgage Lenders Association offers these free consumer guides to help manage borrower expectations throughout the reverse mortgage process.

Keep these booklets handy and read every so often to refresh your memory and understand your responsibilities. But remember, your best source of information is always your servicer.