Don't tap into your home equity with a reverse mortgage until you know the warning signs to watch for. Getty Images/iStockphoto

For retirees who are struggling to make ends meet or are concerned about running out of money, a reverse mortgage can seem like a lifeline. This type of borrowing tool allows seniors to tap into their home equity without the burden of monthly payments, making it an affordable option to consider for those on a limited budget. And, the prospect of turning equity into accessible cash can be especially tempting in today's economy, where unexpected expenses, higher-than-ideal inflation and market volatility can quickly disrupt retirement plans.

But while reverse mortgages can offer access to the cash seniors need, they also carry risks that can catc

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