The Financial Post reports in its Monday edition that cash-strapped American seniors are turning to reverse mortgages, a controversial type of loan that soared during the financial crisis, as a tightening economy drives aging homeowners to find ways to make ends meet. A Financial Times dispatch to the Post reports that the number of federally insured reverse mortgages rose more than 6 per cent in the 12 months ending September, according to government data compiled by the National Reverse Mortgage Lenders Association. Several U.S. lenders told the FT that sales of reverse mortgages have jumped this year as looming cuts to government benefits and persistent inflation have weighed heavily on older people. National Community Stabilization Trust's Sarah Edelman says: "In terms of the drivers here, it's really that the math doesn't math. ... You've got people living longer with less retirement resources." Reverse mortgages are controversial because of the increased risk of foreclosure if customers fall behind on their tax or insurance payments. Despite recent growth, the number of new reverse mortgages remains far below its financial crisis peak and lower than recent highs reached during the Biden administration.