reverse mortgage

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Also found in: Dictionary, Financial.

reverse mortgage:

see under mortgagemortgage,
in law, device for protecting a creditor by giving him an interest in property of his debtor. In common law a mortgage was a conditional sale; i.e., the mortgagor (debtor) sold realty (real property mortgage) or personal property (chattel mortgage), but if the debtor
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References in periodicals archive ?
Home equity conversions could become a form of financing long-term care for the elderly.
As with home equity conversions, the proceeds can be used to purchase nursing home insurance or pay medical or long-term care expenses directly.

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