A type of loan where an individual borrows against the value of their home and does not have to pay back the principal until the individual sells the home or leaves the home permanently.
More Common Terms
- Living Will A legal document that describes individuals' wishes and preferences about lifesaving medical treatments should they not be able to communicate their wishes directly.
- Conservator An individual or public or private agency appointed by a court to provide legal representation for an individual who can no longer manage his or her own affairs.
- Assisted Living Facilities Residential housing that maximizes an individual's ability to live independently and provides a lower level of assistance than that at a skilled nursing facility. Services include 24-hour on-call assistance and help with personal and home care such a...