Reverse mortgage topic
Also known as
- Add other possible names for this topic
A reverse mortgage (or lifetime mortgage) is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner leaves (e.g., into aged care). A reverse mortgage is analogous to an annuity where the principal and interest are paid with homeowner's equity.
In a conventional mortgage the homeowner makes a monthly amortized payment to...
full article at wikipedia
With the exception of Wikipedia summaries and some images the
content on this page is typically distributed under
the Creative Commons
Attribution license or Public Domain.
The original description for this topic was automatically generated from the Wikipedia article "Reverse mortgage" licensed under the GNU Free Documentation License .
| Gallery | add |
There are no images for this topic yet.
Edit Weblinks
Recent Discussions about Reverse mortgage
There are no conversations on this topic. Would you like to start one?
Start the Discussion »