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Reverse mortgage - A reverse mortgage (known as equity withdrawal in the United Kingdom) is a type of loan available to older people, used as a way of converting their home equity (the value of the home, minus the amount of mortgages) into cash payments while retaining ownership of the property. To qualify for a reverse mortgage in the United States, the borrower must be at least 62 and be able to pay off an existing mortgage with the proceeds from the reverse mortgage ...
Collateral (finance) - Collateral is a word used for assets that secure a debt obligation. For example, in the case of a mortgage the house serves as the collateral for the mortgage loan.
Foreign currency mortgage - A Foreign currency mortgage is a mortgage which is repayable in a currency other than the currency of the country in which the borrower is a resident. Foreign currency mortgages can be used to finance both personal mortgages and corporate mortgages.
Adjustable rate mortgage - An adjustable rate mortgage or variable rate mortgage is a loan secured on a property (house) whose interest rate and so monthly repayment vary over time. Other forms of mortgage loan include interest only mortgage, fixed rate mortgage, Negative amortization mortgage, discounted rate mortgage and balloon payment mortgage.
Using a Reverse Mortgage - Article by Stephen Lamoreaux covering reverse mortgages and its relationship to estate planning. Also offers comparive chart displaying differences between a reverse mortgage and a home equity credit line.
ReverseMortgage.org - Maintained by the National Reverse Mortgage Lenders Association, provides information on the reverse mortgage process. Also contains a consumer guide, borrower profiles, lender locator, and reverse mortgage calculator.
Lewallen Mortgage Inc. - Providing home loans, mortgage financing, reverse mortgages, new construction financing, land loans and re-financing.
Source: BazSites.com
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