- reversemortgage
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reverse mortgage
n.
A mortgage in which a homeowner, usually an elderly or retired person, borrows money in the form of annual payments which are charged against the equity of the home.
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Universalium. 2010.
reversemortgage
Look at other dictionaries:
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
