reverse mortgage

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reverse mortgage noun
plural reverse mortgages
reverse mortgage
noun
plural reverse mortgages
Learner's definition of REVERSE MORTGAGE
[count] chiefly US, finance
: a legal agreement in which a bank pays you an amount of money equal to the part of your home's value that you actually own, and you agree that when you sell your home or when you move or die, that amount of money plus interest will be paid to the bank
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