An arrangement where a homeowner borrows against the value of his or her home while retaining the title and without making payments. Unlike a standard reverse mortgage, which typically lasts for a fixed term of five or ten years, the borrower can continue to receive funds as long as they remain living in the house. When the owner no longer lives in the home, either due to passing away or moving, the property is sold to repay the loan.
Related information about lifetime reverse mortgage:
- Lifetime Reverse Mortgage - Financial Dictionary - The Free Dictionary
A type of mortgage in which a homeowner borrows against the value a home, while retaining title, and making no payments while residing in the home.
- What is lifetime reverse mortgage? definition and meaning
Definition of lifetime reverse mortgage: An arrangement where a homeowner borrows against the value of his or her home while retaining the title and without ...
- Am I allowed to get multiple reverse mortgages in my lifetime ...
Jan 4, 2011 ... About ten years ago my wife and I got a reverse mortgage on our condo. We then decided to move, so we had to pay back our reverse ...
- Reverse Mortgage Website Design - Silver Scope Design
Silver Scope Web Design creates websites for lifetime reverse mortgage companies, which allow your company to stand above the competition. Our websites ...
- Reverse Mortgage: What's It Really All About? | H.E.L.P.
She obtains an HECM-approved lifetime reverse mortgage loan that will provide her with cash advances of $2,100 each month. Included in the amount ...
- Common Typos: Reversemortgages, Reversemortgage, Reverse ...
You don't have to pay for your loan within this lifetime – reverse mortgage loans are to be repaid only after death, or when the borrower permanently moves out ...
- Reverse Annuity Mortgage (RAM): Definition from Answers.com
... and the son or daughter with the depreciation and other tax benefits of real estate ownership. See also arm's length transaction; lifetime reverse mortgage.
- reverse mortgage: Definition from Answers.com
Lifetime Reverse Mortgage (finance term). Fixed Term Reverse Mortgage ( finance term). Home Equity Conversion (business term). Reverse Annuity Mortgage ...