reverse mortgage

re·verse mort·gage

R r

Definitions of reverse mortgage words

noun reverse mortgage a type of home mortgage under which an elderly homeowner is allowed a long-term loan in the form of monthly payments against his or her paid-off equity as collateral, repayable when the home is eventually sold. Abbreviation: RAM. 1
noun reverse mortgage a loan typically given to an older person who owns a house, usually disbursed in monthly installments, and charged against the homeowner's equity 0
noun reverse mortgage A reverse mortgage is a mortgage on a paid-off property that provides money to an older retired person, to be paid back when the property is sold or when the person dies. 0

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This term is known only to a narrow circle of people with rare knowledge. Only 1% of English native speakers know the meaning of this word.

According to our data most of word are more popular. This word is almost not used. It has a much more popular synonym.

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