"Reverse Mortgage for Purchase" enables Seniors (over age 61) to buy their Florida home with the proceeds from their home sale up North (or wherever else they used to call home) plus cash from a reverse mortgage to close. Therefore, no cash out of pocket. Often the Florida homebuyer will buy more home than they sold. If the numbers work out, it may be possible to generate enough cash from the reverse mortgage to remodel the home , as well as cover the price differential and closing cost. The bottom line is that, properly structured, there will be no mortgage to pay, only the usual insurance, taxes and maintenance. And, reverse mortgages are easier to qualify for than conventional or government mortgages.