Reverse Mortgage Glossary
Every term explained in plain English, with a practical note on how it affects homeowners age 62 and older.
DisbursementFHAFinancial assessmentHECMHome equityHUDHUD counselingJumbo reverse mortgageLESALienLine of creditLoan-to-value (LTV)Mandatory obligationsMLOMortgage Insurance Premium (MIP)Non-recourse loanOrigination feePrimary residence occupancyPrincipal limitProperty chargesProprietary reverse mortgageReverse mortgageRight of rescissionServicerTenure payment