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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 MatchesTracker mortgagesTracker mortgagesThey are usually linked to the Bank of England base rate, in that you pay a set margin above the current base rate level. Unlike many of the other types of rate, most tracker rates will not revert to the SVR at any point during the life of the loan. They will continue to track the base rate until you have either paid off your mortgage or switch provider or product. You can also get tracker mortgages that have discounts and stepped discounts built into them. RemortgageRemortgageThe arranging of alternative finance for the purchase of a property which is already mortgaged. For example obtaining a mortgage with a lower interest rate to replace the existing mortgage. 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. Mortgage servicingMortgage servicingThe collection of monthly payments and penalties, record keeping, payment of insurance and taxes, and possible settlement of default , involved with a mortgage loan. Veterans Administration (VA) mortgageVeterans Administration (VA) mortgageA home mortgage loan granted by a lending institution to U.S. veterans and guaranteed by the Veterans Administration. Further SuggestionsmortgageWraparound mortgage Balloon mortgage Delinquent mortgage Index tracker mortgage Shared Appreciation Mortgage (SAM) Insured Mortgage Renegotiable Rate Mortgage Lehman Brothers Adjustable Rate Mortgage Index Mortgage pipeline Gnma (government National Mortgage Association) Options Reverse annuity mortgages (RAM) Blanket mortgage Foreign currency mortgage Mortgage Company mortgage indemnity Open end mortgage Portable mortgage discounted rate mortgage graduated payment mortgage Mortgage broker GEM (growing equity mortgage) Lehman Brothers Mortgage Backed Securities Index Guarantee mortgage Buy down mortgage |
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