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Reverse mortgage
A special type of loan available to equity-rich, older owners. Repayment is not necessary until the borrower sells the property or moves into a retirement community.
Related Terms
Home equity conversion mortgage
Alternative mortgage
Rehabilitation mortgage
Purchase-money mortgage
Fully amortized adjustable-rate mortgage
Biweekly mortgage
Blanket mortgage
First mortgage
Buy-down mortgage
Convertible adjustable-rate mortgage
Growing-equity mortgage
Assumable mortgage
Freddie Mac
Fannie Mae
Impounds
Mortgage life insurance
Two-step mortgage
Mortgage broker
Multifamily mortgage
Graduated-payment mortgage (GPM)
Delinquent mortgage
Mortgage insurance
Wraparound mortgage
Truth-in-Lending Act
Life cap
Margin
Federal Home Loan Mortgage Corporation law
Subordinate loan
Second mortgage
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