Reverse Mortgages (loans using home equity conversion)

LIST Code

HO-09-05-04-00

Title

Reverse Mortgages (loans using home equity conversion)

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.

Other Taxonomy Terms

These terms in other taxonomies are equivalent to this term. They are mapped to each other.

• NSMI v1 Taxonomy: 1620600

Location in LIST