Reverse Mortgages (loans using home equity conversion)

HO-09-05-04-00

Definition
This category covers issues that a homeowner might face if they take out a reverse mortgage, in which they receive money based on putting up their home as equity. This might be called Home Equity Conversion Mortgages. This category covers who is eligible for reverse mortgages, what repayment obligations are, what happens if someone defaults on them, what happens if a spouse/co-owner dies, and what scams might be.
Mapped to other Taxonomies