REVERSE MORTGAGE


Meaning of REVERSE MORTGAGE in English

Function: noun

Date: 1977

: a mortgage that allows especially 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 sells the home

Merriam Webster Collegiate English Dictionary.      Merriam Webster - Энциклопедический словарь английского языка.