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
- 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.
- Congestive Heart Failure (CHF) A condition caused by the inability of the heart to maintain adequate circulation of blood due to lack of strength or other factors.
- Disability Insurance A type of insurance coverage that compensates some percentage of a worker's total wages should they become sick and/or injured and therefore unable to work.