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Reverse mortgage |
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Reverse mortgageA mortgage that permits elderly people who own their home outright to receive an income with the home as collateral. The loan is repaid plus interest either at the end of the term or on the death of the borrower when the property would be sold.Reverse mortgageA mortgage agreement allowing a homeowner to borrow against home equity and receive tax-free payments until the total principal and interest reach the credit limit of equity, and the lender is either repaid in full or takes the house.Reverse mortgage Similar MatchesMortgage advanceMortgage advanceThe money loaned to the buyer, by the lender. Commercial mortgageCommercial mortgageA mortgage on a non residential building occupied by a business. Insured MortgageInsured MortgageA mortgage insured against loss to the mortgagee in the event of default and a failure of the mortgaged property to satisfy the balance owing plus costs of foreclosure. May be insured by F.H.A., V.A., or by private mortgage insurance companies. Mortgage confirmationMortgage confirmationWhen you get a written confirmation of your offer, you usually receive two things. Firstly, there will usually be some form of standard covering letter, thanking you for your hugely valued business and welcoming you into a family of customers that have their mortgage lender in common. In addition to the letter, you will receive a written mortgage confirmation. This will normally set out some of your personal details, some facts about the property, your salary details, your solicitors (if you have appointed them by this stage), and will require a signature. Mortgage interest deductionMortgage interest deductionIn the US, an allowable federal tax deduction for the annual interest paid on a mortgage. Further SuggestionsBuy down mortgageMortgage broker Government National Mortgage Association (Ginnie Mae) Purchase money mortgage Gnma (government National Mortgage Association) Options pension mortgage Non status mortgage mortgage backed security Self amortizing mortgage endowment mortgage Portable mortgage Self build mortgage Stepped fixed rate mortgage Mortgage Broker Consolidated mortgage bond Mortgagee Capped rate mortgage Package mortgage Shared appreciation mortgage Second mortgage lending Wraparound mortgage Government National Mortgage Association Guaranteed Mortgage Certificates (GMC) Mortgagee Government insured mortgage |
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