Jun 01 , 2016

Tampa School of Real Estate

Reverse Mortgage

Definition:   a form of mortgage that enables elderly homeowners to borrow against the equity in their homes so they can receive monthly payments to help meet living expenses

Pronunciation: \ri-ˈvərs\   \ˈmȯr-gij\

Used in a Sentence:   My grandparents took out a reverse mortgage on their home so they could have extra money each month.

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