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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 MatchesSecond mortgageSecond mortgageThe taking out of a mortgage on a property which is already mortgaged. This can be used to raise capital if the property has significantly increased in value and would involve finance companies rather than banks or building societies. Since the first mortgagee (lender) usually holds the deeds of the property, the second mortgagee will carry a higher risk and thus charges a considerably higher rate of interest. Mortgage life insuranceMortgage life insuranceA life insurance policy which pays off the outstanding balance of a mortgage in the event of the death of the insured. Mortgage agreement in principleMortgage agreement in principleAn expression of a mortgage lender's willingness to enter into an agreement subject to other conditions being met, such as credit checks and a satisfactory property valuation. Biweekly mortgageBiweekly mortgageA mortgage that requires payments every two weeks and helps repay the loan over a shorter term. Variable rate mortgageVariable rate mortgageA mortgage where the interest rate is not fixed and which is dependent on influences such as interest rates on Treasury securities in the US or base rate in the UK. Further SuggestionsEuro mortgageMortgage pool Mortgage code arbitration scheme Second mortgage lending Government National Mortgage Association Real Estate Mortgage Investment Conduit (REMIC) Mortgage Backed Securities Clearing Corporation (MBSCC) Guaranteed Mortgage Certificates (GMC) senior mortgage bond Mortgage debt Federal Home Loan Mortgage Corporation (FHLMC) Interest only mortgages Index tracker mortgage Portable mortgage Delinquent mortgage Wraparound mortgage Tracker mortgages Assumable mortgage Mortgage advance Mortgage deed Federal Agricultural Mortgage Corporation (Farmer Mac) Fixed term reverse mortgage Cooperative mortgages Mortgage lien Mortgage Life Insurance |
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