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Reverse Mortgage In Florida What Does Reverse Mortgage Mean Reverse Mortgages For Seniors MEMPHIS, Tenn. – With a reverse mortgage, it’s easier than ever for a senior to convert their home into cash. But there are some important catches, and data shows they’re leading to foreclosures..A reverse mortgage is a type of loan for seniors age 62 and older. reverse mortgage loans allow homeowners to convert their home equity into cash income with no monthly mortgage payments.