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 ?
Guidance from the National Ethics Association: If you are involved with home equity conversions, obey the letter of law regarding Federal Housing Administration (FHA) regulations, comply with all loan suitability provisions, and make sure your clients fully understand the workings of these complex arrangements.
GUIDANCE: If you are involved with home equity conversions, obey the letter of law regarding Federal Housing Administration (FHA) regulations, comply with all loan suitability provisions, and make sure your clients fully understand the workings of these complex arrangements.
Home equity conversions, in any event, have gone nowhere.
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