A reverse mortgage could be a financial tool worth exploring for seniors this September. Fauzi Muda/Getty Images

Timing is everything, and when it comes to making financial decisions, it can be the difference between success and failure. For many seniors and older homeowners, many of whom are tied to limited budgets, the timing surrounding their financial decisions is critical to get right. One wrong investment choice or savings mistake can have especially damaging consequences, so they'll need to be judicious and calculated, especially if they're considering borrowing against their home equity .

With the average home equity level recently hitting a record high, however, this may be the right time to take action. And if you're a homeowner age 62 or older, it can be particularl

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