MLchartDataset catalogue

Reverse mortgage

Term · Law · MLC-T-LAW-004312

A type of loan available to homeowners, typically aged 62 or older, that allows them to convert a portion of their home equity into cash. The borrower receives payments from the lender and does not have to repay the loan until they sell the home, move out, or die. The loan balance grows over time as interest accrues and payments are made to the borrower.

Table 1. Record
IdentifierMLC-T-LAW-004312
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004312",
  "term": "Reverse mortgage",
  "field": "Law",
  "definition": "A type of loan available to homeowners, typically aged 62 or older, that allows them to convert a portion of their home equity into cash. The borrower receives payments from the lender and does not have to repay the loan until they sell the home, move out, or die. The loan balance grows over time as interest accrues and payments are made to the borrower.",
  "url": "https://mlchart.com/terminology/law/reverse-mortgage/"
}

Record 4,378 of 5,445 in Law terminology (MLC-0107). Request the full dataset.