Answer:
An equity release scheme, such as a home equity release, has pros and cons. One pro is that you have a steady monthly income because the person who purchases the home pays you directly. In addition, you remain in possession of the home until your death. A con is that you remain responsible for the property as long as you are alive and are responsible for the upkeep. You can not decide to sell the property for a lump sum at a later time as you are no longer the owner. It can allow you to "keep" your home and live out your life there, but youdon't have any collateral in the property.