reverse mortgage A mortgage that allows senior homeowners 62 years of age or older to release a percent of the equity in their property without making monthly payments. The loan is repaid when the borrower no longer resides in the property.
reverse mortgage A mortgage that allows senior homeowners 62 years of age or older to release a percent of the equity in their property without making monthly payments. The loan is repaid when the borrower no longer resides in the property.