reverse mortgage


: a mortgage that allows an elderly person to convert home equity into available funds through a line of credit, cash advance, or periodic disbursements to be repaid with interest usually when the borrower dies, moves, or sells the home

Examples of reverse mortgage in a Sentence

Recent Examples on the Web Consider this as purchasing a new home in retirement using a reverse mortgage. Jamie Hopkins, Forbes, 28 Mar. 2024 Her father had died suddenly from a heart attack a year and a half earlier, leaving her the family’s Maspeth, Queens, home — and, to her surprise, a reverse mortgage. Jake Pearson, ProPublica, 7 Mar. 2024 However, the study underscores the need for improved education on reverse mortgages and understanding of the products and strategies. Jamie Hopkins, Forbes, 28 Mar. 2024 The catch: Unlike a reverse mortgage, a HELOC requires you to make payments. Kate Ashford Of Nerdwallet, Quartz, 4 Mar. 2024 Withdrawing equity via a reverse mortgage actually means taking out a loan and pledging your home equity as collateral. Michael Cannivet, Forbes, 29 Feb. 2024 So far it’s got the elements of a bad country song or a late-night TV commercial for reverse mortgages. Bill Goodykoontz, The Arizona Republic, 20 Feb. 2024 Have a reverse mortgage; and owe a past-due property tax and/or insurance payment. Angela Rodriguez, Sacramento Bee, 13 Feb. 2024 Her mother, unbeknownst to all save a financial adviser, had taken out a reverse mortgage and exhausted its returns in no time. Joy Williams, The New Yorker, 8 Jan. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'reverse mortgage.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1977, in the meaning defined above

Time Traveler
The first known use of reverse mortgage was in 1977

Dictionary Entries Near reverse mortgage

Cite this Entry

“Reverse mortgage.” Dictionary, Merriam-Webster, Accessed 23 Apr. 2024.

Legal Definition

reverse mortgage

see mortgage

Last Updated: - Updated example sentences
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!