An)_____ is a type of mortgage that enables the seller of real property to realize the equity in the property while retaining possession until death,in exchange for ownership interest.
A)forward mortgage
B)home equity loan
C)home equity credit line
D)reverse mortgage
E)conventional mortgage

Question

Quizplus · Accepted Answer

The description provided in the question matches the features of a reverse mortgage, where the seller (typically over the age of 62) can borrow against the equity of their property and receive payments from a lender while they retain ownership and possession until death. Therefore, the correct choice is D: reverse mortgage. The other options, such as forward mortgage, home equity loan, and home equity credit line don't provide the same terms as a reverse mortgage.

An)_____ Is a Type of Mortgage That Enables the Seller