Reverse mortgage loan means a loan, or an agreement to lend, which is secured by a first mortgage on the borrower’s prin- cipal residence, is insured by the federal government under 12 USC 1715z−20 and requires repayment as specified in the loan agreement under any of the following conditions:
Reverse mortgage loan means a loan:
Reverse mortgage loan means a nonrecourse con- sumer credit obligation in which:
Examples of Reverse mortgage loan in a sentence
Reverse mortgage loan applicants are required to wait 3 days after submitting an application before signinga commitment or in any way proceeding with a reverse mortgage loan.
Reverse mortgage loan payments made to a borrower must be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under means‑tested programs of aid to individuals.
Reverse mortgage loan Non-Banking Finance Companies: Types, Growth, Functions, RBI Guidelines, Prudential Norms.
Reverse mortgage loan servicer" or "servicer" means a person who performs servicing activities for a reverse mortgage loan.
Reverse mortgage loan then allows homeowners to borrow against their home equity.
More Definitions of Reverse mortgage loan
Reverse mortgage loan means a nonrecourse consumer credit
Reverse mortgage loan means a nonrecourse consumer credit obligation in which:
Reverse mortgage loan means a loan that:
Reverse mortgage loan means a mortgage loan the proceeds of which are disbursed to the mortgagor in 1 or more lump sums, or in equal or unequal installments, either directly by the lender or the lender's agent, and which requires no repayment until a future time, upon the earliest occurrence of 1 or more events specified in the reverse mortgage loan contract.
Reverse mortgage loan means a Mortgage Loan that provides for the loan of money to a borrower based on the home equity in the Mortgaged Property and the borrower’s obligation to repay the loan is deferred until the owner dies, sells the Mortgaged Property or the owner vacates the Mortgaged Property.
Reverse mortgage loan means a Loan that is, or is intended to be, insured by the Federal Housing Administration pursuant to FHA’s Home Equity Conversion Mortgage program, is intended for sale to Xxxxxx Mae pursuant to Xxxxxx Mae’s Home Keeper program, or is another reverse mortgage loan product, secured by residential real property that includes one through four dwelling units, and made subject to this Agreement and the applicable Appendix by the written agreement of the parties.
Reverse mortgage loan means a home equity conversion mortgage loan issued under the terms of this chapter; and