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

Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.

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 Editors’ Picks That brings us to reverse mortgages. —

Ron Lieber, New York Times, 19 May 2024 Guild also provides reverse mortgages, bridge loans and financing for manufactured housing, which many lenders lack. —

Kelsey Neubauer, CNBC, 2 Dec. 2024 See all Example Sentences for reverse mortgage

Word History

First Known Use

1977, in the meaning defined above

Time Traveler

The first known use of reverse mortgage was in 1977

See more words from the same year

Cite this Entry

Style

“Reverse mortgage.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/reverse%20mortgage. Accessed 18 Jan. 2025.

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