An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the lender over a fixed amount of years. A lot of individuals choose this option to pay for variety of expensive costs such as higher education, new construction/remodeling, or to pay off other debts. If the borrower is not careful, a reverse mortgage of any type may result in additional debt.
Related information about fixed term reverse mortgage:
- What is fixed term reverse mortgage? definition and meaning
Definition of fixed term reverse mortgage: An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly ...
- Fixed-term reverse mortgage financial definition of Fixed-term ...
A mortgage in which the lending institution provides payments to a homeowner for a fixed number of years. Want to thank TFD for its existence? Tell a friend ...
- Reverse Mortgage - Financial Dictionary - The Free Dictionary
References in periodicals archive ? Financial browser ? Full browser ? Fixed- term reverse mortgage · Hipoteca revertida · home equity conversion mortgage ...
- fixed-term mortgage - Financial Dictionary - The Free Dictionary
Fixed-price tender offer · Fixed-Rate Capital Security · fixed-rate loan · fixed-rate mortgage · Fixed-Rate Payer. fixed-term mortgage. Fixed-term reverse mortgage ...
- reverse mortgage: Definition from Answers.com
Lifetime Reverse Mortgage (finance term). Fixed Term Reverse Mortgage ( finance term). Home Equity Conversion (business term). Reverse Annuity Mortgage ...
- Fixed Term: Definition from Answers.com
presidential · Level Payment Amortization (in banking). Time Deposit (business term). Fixed Term Reverse Mortgage (finance term). liabilities. « Less. » More ...
- Guarding the Golden Years - Reverse Mortgages
A word of caution: If you choose a plan that requires repayment on a specificdate, known as a "fixed-term" Reverse Mortgage, you must be sure that you willhave ...
- Seniors - Housing decisions - Consumer Measures Committee
If you take out a fixed-term reverse mortgage, your debt is constantly increasing against the value of your home, and the full amount of the loan will be due when ...