YOU NO LONGER OWN YOUR HOME. This is totally untrue you retain ownership to your home AND you or your estate retains any equity after the reverse mortgage is paid off. 

YOU HAVE TO HAVE 100% EQUITY TO GET A REVERSE MORTGAGE. If you have a mortgage you may still benefit from a reverse mortgage. Most borrowers are paying off some sort of debt. 

YOU HAVE TO BE IN GOOD HEALTH. Your health is not considered as a part of the underwriting decision. 

YOU HAVE TO HAVE GOOD CREDIT. Your credit is not considered as a part of the underwriting decision. 

YOU WILL BE KICKED OUT OF YOUR HOUSE WHEN YOU HAVE USED UP THE MONEY. You never have to leave your home as long as you keep current on your taxes and insurance and it is still your primary residence.