A recent report says that the number of seniors looking to use theirhome equity through a reverse mortgage is growing, thanks in part to recent changes in the program.

Reuters reports that during the final three months of last year, there were roughly 25,000 new reverse mortgages made, a jump of more than 25 percent from the 19,300 that were made during the same time period in 2009.

Analysts say the increase may be due to a new loan structure, which reduces the upfront fees associated with the program. The new program requires just 0.01 percent of the property's value down, instead of the standard 2 percent, but can only be used for smaller loan amounts.

According to the source, one major lender said that nearly 20 percent of its reverse mortgages used the new program.

In a reverse mortgage, a homeowner takes money out of their home to spend, giving the lender a portion of the home's equity in return. When that person dies, or the home is sold, the lender takes back its share from the proceeds of the sale.