reverse mortgage


An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the lender. also called reverse-annuity mortgage or home equity conversion mortgage.

Use reverse mortgage in a sentence

You may find that you need to get a reverse mortgage at times and you will need to try to get the best deal you can.

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My friends Mom and dad looked into a reverse mortgage on their home to supplement their social security and pension income.

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My grandmother decided to secure her retirement by arranging for a reverse mortgage, which allowed her to get a stream of payments each month for her house.

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home keeper Home Equity Conversion Mortgage