We all know about the economic situation in the US. And from what I hear the most affected by the issue is the real estate industry. Am not really sure how this affected the buying power of the consumers and how it influenced the decision to buy real estate properties of the consumers though. But if the economic situation in the US is really bad and the real estate industry is truly affected then the American people will really think twice before buying houses. Although homeowners can hold on to their properties and wait for the value of their properties to go up, some might be in dire need to sell for some financial difficulties like the senior citizens. And since most senior citizens are already under pension and are too old to qualify for a loan, reverse mortgage or lifetime mortgage may actually be an answer to their difficulties. However, reverse mortgages are not for everyone. This loan is only available to homeowners who are 62 year old and older. But, those who are interested in getting this type of loan must seek a third party financial counseling approved by the Department of Housing and Urban Developent (HUD) and set an appointment with the institution where they are planning to get their loan to get more reverse mortgage information. This way interested parties will know what are the effects on having this loan on their social security and medicare benefits, what taxes that may apply and etc.