Definitions for "reverse mortgage"
An arrangement in which a homeowner borrows against the equity in his/her home...
A mortgage that allows elderly borrowers to access their equity without selling their home. The lender makes payments to the borrower with a reverse mortgage. The loan is repaid from the proceeds of the estate when the borrower moves or passes away.
Rather than paying into a mortgage, certain qualified homeowners can tap into their equity for retirement support using a reverse mortgage.
Keywords:  annuity, mortgage, see
See Reverse Annuity Mortgage