In a reverse equity mortgage,the equity in your home serves as collateral on the loan.

Name: In a reverse equity mortgage,the equity in your home serves as collateral on the loan.
Brand: Quizplus
Rating: 4.8 (59 reviews)

Question

Quizplus · Accepted Answer

In a reverse equity mortgage, the borrower receives payments or a lump sum from a lender based on the equity in their home. The loan is repaid either when the borrower dies or sells the home, and the equity in the home is used as collateral for the loan.

In a Reverse Equity Mortgage,the Equity in Your Home Serves