reverse mortgage (redirected fromReverse Mortgages) Thesaurus Financial Encyclopedia 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. ...
The meaning of REVERSE MORTGAGE is a mortgage that allows an elderly person to convert home equity into available funds through a line of credit, cash advance, or periodic disbursements to be repaid with interest usually when the borrower dies, moves, or
REVERSE MORTGAGE meaning: a legal agreement in which a bank pays you an amount of money equal to the part of your home's value that you actually own, and you agree that when you sell your home or when you move or die, that amount of money plus interest w
The meaning of MORTGAGE is a conveyance of or lien against property (as for securing a loan) that becomes void upon payment or performance according to stipulated terms. How to use mortgage in a sentence.
Mortgagerates are down. —see alsoreverse mortgage 2mortgage/ˈmoɚgɪʤ/verb mortgages;mortgaged;mortgaging Britannica Dictionary definition of MORTGAGE [+ object] :to give someone a legal claim on (property that you own) in exchange for money that you will pay back over a period of ...
1.The opposite or contrary:All along we thought Sue was older than Bill, but just the reverse was true. 2. a.The back or rear part:the reverse of the flyer. b.The side of a coin or medal that does not carry the principal design; the verso. ...
TO REVERSE, practice. The decision of a superior court by which the judgment, sentence or decree of the inferior court is annulled. 2. After a judgment, sentence or decree has been rendered by the court below, a writ of error may be issued from the superior to the inferior tribunal, whe...
Related to mortgage: reverse mortgage, Mortgage ratesMortgage A legal document by which the owner (i.e., the buyer) transfers to the lender an interest in real estate to secure the repayment of a debt, evidenced by a mortgage note. When the debt is repaid, the mortgage is discharged, and...
Mortgage Creditmeans anagreement fortheprovision of credittoa personon thesecurity ofa mortgageof a freehold orleasehold estateorinterest in land; Sample 1Sample 2Sample 3 Mortgage Creditmeansa creditreceivable grantedby the Issuersecured bya Mortgageand/or anyAdditional Security, which is registered ...
A home equity conversion mortgage (HECM) is a type of Federal Housing Administration (FHA) insured reverse mortgage.