The reverse mortgage is hailed as a versatile retirement funding tool. Hank McManus, a local reverse mortgage consultant at American Advisors Group, offers his Top 25 uses for a reverse mortgage:

1. Pay off forward mortgage to reduce monthly expenses.

2. Re-model home to accommodate your aging limitations.

3. Maintain a line of credit (that grows a lot of credit) for health emergencies.

4. Hold on to other assets while their value continues to grow.

5. Avoid selling assets at depressed values.

6. Pay for health insurance until Medicare eligible at 65.

7. Pay Medicare Part B and Part D.

8. Combine life tenure payments with Social Security and income generated by assets to replace salary and maintain monthly routine of paying bills.

9. Pay children’s or grandchildren’s college or professional education.

10. Maintain a “standby” cash reserve to get through the ups and downs of investment markets.

11. Combine proceeds with sale of one home to buy a new home without monthly mortgage payments.

12. Pay for long-term care needs.

13. Fill gap in a retirement plan caused by lower than expected returns on your assets.

14. Pay for short in-home care or physical therapy following an accident or medical episode.

15. Pay for a retirement plan, estate plan or a will.

16. Convert a room or basement to a living facility for an aging parent, relative or caregiver.

17. Set up transportation arrangements for when you are no longer comfortable driving.

18. Pay real estate taxes and property insurance.

19. Delay collecting Social Security until maxes out at age 70.

20. Eliminate credit card debt and avoid new credit debt.

21. Cover monthly expenses in between jobs.

22. Avoid capital gains tax consequences of selling of other assets.

23. Purchase health-related technology to live in home alone.

24. Pay for Uber or Lyft account to get to appointments and social activities.

25. Help adult children through family emergencies.