reverse mortgage
noun
: a mortgage that allows an elderly person to convert home equity into available funds through a line of credit, cash advance, or periodic disbursements to be repaid with interest usually when the borrower dies, moves, or sells the home
Examples of reverse mortgage in a Sentence
Recent Examples on the Web
No, Bank of America stopped offering reverse mortgages in 2011, in the wake of the Great Recession.
—
Kelsey Neubauer, CNBC, 30 Jan. 2025
Both companies also made our list of the best reverse mortgage lenders.
—Kelsey Neubauer, CNBC, 28 Jan. 2025
In one instance, a loan broker persuaded a widow with dementia to take out a reverse mortgage on her house.
—Lew Sichelman, Miami Herald, 14 Jan. 2025
Loans: Conventional, FHA, USDA, VA, jumbo, refinancing, home equity loan, reverse mortgage
Credit score: 580 for conventional, 500 for FHA and VA
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Better Mortgage
Better Mortgage’s One Day Mortgage promises an underwriting decision in 24 hours.
—Kelsey Neubauer, CNBC, 27 Dec. 2024
See All Example Sentences for reverse mortgage
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Kelsey Neubauer, CNBC, 30 Jan. 2025
Both companies also made our list of the best reverse mortgage lenders.
—Kelsey Neubauer, CNBC, 28 Jan. 2025
In one instance, a loan broker persuaded a widow with dementia to take out a reverse mortgage on her house.
—Lew Sichelman, Miami Herald, 14 Jan. 2025
Loans: Conventional, FHA, USDA, VA, jumbo, refinancing, home equity loan, reverse mortgage
Credit score: 580 for conventional, 500 for FHA and VA
[ Return to summary ]
Better Mortgage
Better Mortgage’s One Day Mortgage promises an underwriting decision in 24 hours.
—Kelsey Neubauer, CNBC, 27 Dec. 2024
See All Example Sentences for reverse mortgage
Cite this Entry
“Reverse mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/reverse%20mortgage. Accessed 28 Feb. 2025.
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