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Reverse annuity mortgage |
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Reverse annuity mortgageA mortgage that permits elderly people who own their home outright to receive an income for life in return for gradually relinquishing ownership in the property.Similar MatchesPortable mortgagePortable mortgageThe mortgage can be transferred from one property to another without incurring penalties. Mortgage cash surplusMortgage cash surplusMoney left over at the end of a mortgage term, over and above the amount required to pay back the debt. Balloon mortgageBalloon mortgageA mortgage in which monthly installments are not large enough to repay the loan by the end of the term. As a result, the final payment due is the lump sum of the remaining principal. Shared appreciation mortgageShared appreciation mortgageA loan that allows a lender or other party to share in the borrower's profits when the home is sold. Low start mortgageLow start mortgageThis is like a repayment mortgage, but with a difference. In the introductory period, only interest is paid back to the lender and not any of the capital outstanding. After this period, the repayments start in earnest. The total amount of interest and repayments over the life of the year are higher than with a normal repayment mortgage, but this sacrifice can be worth it if you need to severely restrict your outgoings during the low start period. Further SuggestionsOpen end mortgageGEM (growing equity mortgage) Mortgage Bonds Mortgage Company Government National Mortgage Association Mortgage code arbitration scheme Mortgage application fee Direct Reduction Mortgage Alternative mortgage instruments mortgage Bi weekly mortgage loan mortgage backed security H Hard Money Mortgage repayment mortgage capped rate mortgage Mortgage incentives Adjustable rate mortgage (ARM) Owner Will Carry Mortgage Mortgage reference fee Mortgage deed Euro mortgage mortgage life insurance Remortgage Cooperative mortgages Foreign currency mortgage |
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