So you've built up a good deal of equity in your home and you'd like to access it. You can, through something called a reverse mortgage. It's a great way for seniors to get some extra income. With a reverse mortgage you borrow against the equity you've built up. The lender pays you instead of you paying the lender. There are a number of ways you can receive your money, including monthly payments and a line of credit. Usually, you must be at least 62 years old to get a reverse mortgage and have paid off all or most of your loan. And don't worry, these payments won't affect benefits like Social Security and Medicare. You'll pay closing costs and you'll have to qualify for this loan, but income is not a factor. Instead, the amount you can borrow is based on your age, the number of borrowers, and your current property value. 

You must live in the house to continue receiving payments. Eventually your estate will settle the loan. Since it's highly unlikely your loan will exceed the property value your heirs can sell the house to pay off the loan. Reverse mortgages are not available in all states. If you're interested in learning more, contact your lender or Fannie Mae.