> i immediately called parker, and we initiated the sale of this home the same way. >> through the hecmprogram, they bought the new house with a reverse mortgage, keeping the leftover cash for their day-to-day expenses. >> if the market tanks, you're gonna lose the equity in your house. but even if you own your house and the market tanks, it's exactly the same thing. what you're doing is receiving your equity up front, which is, i think, a smart move, if you have a plan. >> so what are the rules? well, the youngest title holder must be 62 years or older. >> at that age, you'll be able to borrow approximately 50 to 52 percent of the value of your home. as your age goes up, your ability to borrow increases. someone who, for example, is in their mid to late 80s can get up to 60, 65, even 70 percent. >> the home must be a primary residence. it has to be a single-family home, two- to four-unit home, or an fha-approved condo. the borrower must complete a hud-approved counseling session -- >> ensuring the borrower and consumer understands what they're going into, understands that they still ow