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
- Custodial Care Personal care services that do not include a skilled nursing care component. Commonly associated with assistance of activities of daily living (ADL).
- Durable Medical Equipment Medical equipment prescribed by a doctor for use by a patient at home. These reusable items include such things as hospital beds, lifts, wheelchairs, and oxygen equipment.
- Licensed Practical Nurse (LPN) A professional trained and certified to provide health services including technical nursing services, administration of medication, and changing of dressings.