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Home Equity Conversion Mortgage

HECM. An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the Lender. also called reverse-annuity Mortgage or Reverse mortgage.

Related Terms: 12 Annuity, Borrow, Call, Lend, Lender, Mortgage, Own, Range, Reverse-annuity mortgage, Reverse mortgage, Tax, UIT
Other Related Pages: Category: Real_Estate Starting With: H
Semi Related Terms: 457 CLICK HERE TO VIEW
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