For more than 20 years, reverse mortgages have been seen as a financial lifeline of last resort for seniors who are house-rich but cash-poor.
Now, bolstered by the research of some leading financial advisers and new rules from the Department of Housing and Urban Development, reverse-mortgage lenders hope to recast the product’s role.
Used properly, a reverse mortgage can also serve as a standby line of credit that can shield investment portfolios in down markets 
and improve chances that clients won’t outlive their money.