reverse mortgage

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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.
References in periodicals archive ?
Reverse mortgages are a new and complicated financial product that are being offered at an increasing rate to the nation's seniors.
THE ISSUE OF INSURANCE SALES representatives persuading older consumers to take out reverse mortgages and then put the proceeds or other assets into annuities came up at a congressional hearing last week.
Reverse mortgages are offered by banks, thrifts and other financial institutions.
Related: Older Consumers Fret About Reverse Mortgages, Scam Recovery: CFPB)
Using home equity conversion mortgages -- commonly known as reverse mortgages -- strategically can help improve clients' retirement sustainability and build a larger legacy to leave their heirs, according to Wade Pfau, professor of retirement income at The American College and director of retirement research at McLean Asset Management and inStream Solutions.
senator and a star of Law & Order, but he may have been best known by the end of his life as a pitchman for reverse mortgages on TV commercials.
The Consumer Financial Protection Bureau (CFPB) said as a result of a focus group study that left participants with misimpressions on reverse mortgage advertising, CFPB has cautioned older Americans to watch out for confusing or misleading advertising for reverse mortgages.
Our HECM products enable financial institutions to easily incorporate reverse mortgages into their offering.
Reverse mortgages are a complex and often misunderstood product.
You know some people have told me reverse mortgages sound too good to be true,'' the actor and former U.
He has 10 years of experience in the Mortgage industry, specifically in Reverse Mortgages.
RMF originates and services reverse mortgages in 47 states and jurisdictions through its retail, wholesale and third-party channels.