Reverse Mortgage

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

  • Reverse Mortgage 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.
  • Age Restricted Communities A housing area or development, often gated, that restricts ownership and residency to individuals who are over a set age. These communities are set up to accommodate older adults.
  • Depression Depression is a biological illness which may include sadness without any apparent cause, lack of interest, change in appetite and fatigue. Because depression is an illness, a person can't just "snap out of it."

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