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 ?
The Consumer Financial Protection Bureau is warning older consumers against taking out a reverse mortgage in order to delay collecting Social Security benefits.
I think one of the most difficult things to understand is the line of credit on a reverse mortgage and why it's able to grow over time.
The basics of a reverse mortgage are that the lender issues a monthly payment based on the value of the home to the borrower, and the lender takes possession of the home upon the borrower's death.
Reverse Mortgage Funding LLC announced today that it has hired George Stewart (NMLS # 506558) as a Reverse Mortgage Loan Specialist.
BANKING AND CREDIT NEWS-June 17, 2015-CFPB examines reverse mortgage marketing
M2 EQUITYBITES-June 17, 2015-CFPB examines reverse mortgage marketing
THE ABA HAS ENDORSED, through its Corporation for American Banking subsidiary, Reverse Mortgage Funding LLC's reverse mortgage program including its full offering of FHA-insured Home Equity Conversion Mortgage (HECM) products.
For those who have special needs, or are caregivers for an individual with special needs, the promise of extra cash flow from a reverse mortgage may seem like a wonderful gift; however, be sure to read the fine print.
Then you see a late-night television commercial about something called a reverse mortgage.
US Mortgage Corporation has said that Bryan Fitzpatrick has joined the company to expand its Reverse Mortgage Division.
15 July 2014 - US-based Reverse Mortgage Investment Trust Inc (RMIT) has taken over local Reverse Mortgage Funding LLC, or RMF, the latter said without providing financial details.
The reverse mortgage is becoming a popular financial planning tool, especially for retired individuals with limited savings.