reverse mortgage

English - English

Definition of reverse mortgage in English English dictionary

An agreement under which money is borrowed to be repaid only when the borrower sells their home or dies or moves

A mortgage in which a homeowner, usually an elderly or retired person, borrows money in the form of annual payments which are charged against the equity of the home

Related Terms

reverse mortgages

plural form of reverse mortgage

Hyphenation

re·verse mort·gage

Turkish pronunciation

rivırs môrgıc

Pronunciation

/rēˈvərs ˈmôrgəʤ/ /riːˈvɜrs ˈmɔːrɡəʤ/