Reverse mortgage

Rarity: Common

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At a glance

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Work

Domain

Arts and letters

Knowledge cost

2

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What Wikipedia says

A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments.

Excerpt from the Wikipedia article “Reverse mortgage”, under the CC BY-SA 4.0 license. Read the article on Wikipedia