reverse mortgage


reverse mortgage
reverse mortgage see mortgage

Merriam-Webster’s Dictionary of Law. . 1996.

reverse mortgage
A loan for homeowners 62 years of age or older who have considerable equity in their houses. Typically, borrowers make no payments during their lifetimes; the loan is paid off at their death, when the house is sold.
Category: Bankruptcy, Foreclosure & Debt
Category: Real Estate & Rental Property → Homeowners

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • reverse mortgage — n. a loan typically given to an older person who owns a house, usually disbursed in monthly installments, and charged against the homeowner s equity * * * …   Universalium

  • reverse mortgage — n. a loan typically given to an older person who owns a house, usually disbursed in monthly installments, and charged against the homeowner s equity …   English World dictionary

  • Reverse mortgage — A reverse mortgage (known as lifetime mortgage in the United Kingdom) is a loan available to seniors (62 and older in the United States), and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner s …   Wikipedia

  • Reverse Mortgage — A type of mortgage in which a homeowner can borrow money against the value of his or her home. No repayment of the mortgage (principal or interest) is required until the borrower dies or the home is sold. After accounting for the initial mortgage …   Investment dictionary

  • Reverse Mortgage — Bei einer Umgekehrten Hypothek bzw. Reverse Mortgage handelt es sich um ein Finanzdienstleistungsprodukt, welches in mehreren entwickelten Finanzmärkten (im wesentlichen in den USA) angeboten wird. Diese Bezeichnung ist insofern in ihrer… …   Deutsch Wikipedia

  • reverse mortgage — noun see reverse annuity mortgage * * * reverse annuity mortgage or reverse mortgage, U.S. and Canada. the transfer of a homeowner s mortgage to a bank, lending company, or the like, in return for a regular annuity: »The reverse annuity mortgage… …   Useful english dictionary

  • reverse mortgage. — See reverse annuity mortgage. * * * …   Universalium

  • reverse mortgage. — See reverse annuity mortgage …   Useful english dictionary

  • reverse mortgage — noun Date: 1977 a mortgage that allows especially an elderly person to convert home equity into available funds through a line of credit, cash advance, or periodic disbursements to be repaid with interest usually when the borrower dies, moves, or …   New Collegiate Dictionary

  • reverse mortgage — A mortgage agreement allowing a homeowner to borrow against home equity and receive tax free payments until the total principal and interest reach the credit limit of equity, and the lender is either repaid in full or takes the house. Bloomberg… …   Financial and business terms


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