Home > Terms > English, UK (UE) > Reverse mortgage

Reverse mortgage

A loan to an elderly home owner on which the balance rises over time, and which is not repaid until the owner dies, sells the house, or moves out permanently.

This is auto-generated content. You can help to improve it.
0
Improve it
  • Part of Speech: noun
  • Synonym(s):
  • Blossary:
  • Industry/Domain: Banking
  • Category: Mortgage
  • Company:
  • Product:
  • Acronym-Abbreviation:
More
Collect to Blossary

Other Languages:

More

Member comments

You have to log in to post to discussions.

Related terms

reverse mortgage
Banking; Refinance

A reverse mortgage is a loan that allows homeowners age 62 and older to access a portion of the available equity in their homes without having to sell the home, give up title, or ...

reverse mortgage
Financial services; General Finance

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 ...

reverse mortgage
Banking; General banking

A reverse mortgage is a special home loan product that allows a homeowner aged 62 or older the ability to access the equity that has accumulated in their home. The home itself ...

reverse mortgage
Law; General law

A mortgage in which the homeowner (usually an older, retired person), rather than making interest payments, gets regular payments for income, so the loan balance increases.

reverse mortgage
Banking; Mortgage

A loan to an elderly home owner on which the balance rises over time, and which is not repaid until the owner dies, sells the house, or moves out permanently.

lifetime reverse mortgage
Financial services; General Finance

A type of mortgage in which a homeowner borrows against the value a home, while retaining title, and making no payments while residing in the home. When the owner ceases living in ...

acceleration
Banking; Real estate; Mortgage; Mortgage

The right of the mortgagee (lender) to demand the immediate repayment of the mortgage loan balance upon the default of the mortgagor (borrower) or by using the right vested in the ...

Equity
Banking; Mortgage

The amount a home-owner would receive for a house with the mortgage not completely paid. Subtract the the amount left to pay on the owner's mortgage from current market value of a ...

indemnifiable tax
Banking; Mortgage

If such Tax is an Indemnifiable Tax, X will pay to Y, in addition to the payment to which Y is entitled under this Agreement, such additional amount as is necessary to ensure that ...

VA loan
Real estate; Mortgage

A loan made by a private lender that is partially guaranteed by the Veterans Administration.

adjustable-rate mortgage
Real estate; Mortgage

A mortgage in which the interest changes periodically, according to corresponding fluctuations in an index. All ARMs are tied to indexes.

acceleration clause
Real estate; Mortgage

A clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons. The most common reasons for accelerating a loan are if the ...

Terms in the News

Featured Terms

Harry8L
  • 0

    Terms

  • 0

    Blossaries

  • 1

    Followers

Industry/Domain: People Category: Politicians

Mohammed ben Rachid Al Maktoum

Or Sheikh Mohammed bin Rashid Al Maktoum,he is the Prime Minister and Vice President of the United Arab Emirates (UAE), and absolute monarch of Dubai. ...

Contributor

Featured blossaries

Business Contracts

Category: Business   2 9 Terms

Blossary.com

Category: Languages   5 6 Terms

Browers Terms By Category

TERMS

SOCIAL

EXTRAS

SOLUTIONS