Register
A real estate loan where a homeowner receives monthly payments based on accumulated equity rather than a lump sum and is repaid upon the death of the owner or sale of the property is a (an)
173k views
4 votes
A real estate loan where a homeowner receives monthly payments based on accumulated equity rather than a lump sum and is repaid upon the death of the owner or sale of the property is a (an)

User Khalil
by
4.6k points

1 Answer

1 vote

Answer:

reverse annuity mortgage

Step-by-step explanation:

The term that is being described is known as a reverse annuity mortgage. Like defined in the question, this is a loan that allows you to cash in some of your home's equity without actually needing to sell the entire real estate property and move out of your home. Instead the loan is secured against the value of your home and monthly payments are paid to the owner that asked for the loan.

User VinSmile
by
4.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.2m questions

6.7m answers

Other Questions

Misk Co. purchased the following securities during 20X7 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities: I. Debt securities bought and held for the
Which of the following should be considered last when searching for financing? Family members Banks Commercial finance companies Credit cards I'm guessing it's C but idk
Explain the similarities and differences between how both producers and consumer use money
Donna's philosophy as she coordinates the marketing efforts is to keep in mind the company's overarching strategy, and to ensure that all marketing activities send a consistent message, beginning with
Brett buys a new cell phone for​ $100. he receives consumer surplus of​ $80 from the purchase. how much does brett value his cell​ phone?
Link Copied!