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LSDefine

Simple English definitions for legal terms

reverse annuity mortgage

Read a random definition: qualified residence interest

A quick definition of reverse annuity mortgage:

A reverse annuity mortgage is a type of loan where an elderly borrower receives regular payments from a lender over a long period of time. The loan is repaid in a lump sum when the borrower dies or when the property is sold. It is also known as a reverse mortgage.

A more thorough explanation:

A reverse annuity mortgage is a type of mortgage where the lender provides regular income to the borrower, usually an elderly person, over a long period. The loan is repaid in a lump sum when the borrower dies or when the property is sold. This type of mortgage is also known as a reverse mortgage.

For example, an elderly person who owns a house but needs additional income can take out a reverse annuity mortgage. The lender will provide regular payments to the borrower, which can be used to supplement their retirement income. When the borrower dies or sells the property, the loan is repaid in a lump sum from the proceeds of the sale.

This type of mortgage is useful for elderly people who need additional income but do not want to sell their property. It allows them to stay in their home while receiving regular payments from the lender.

reverse | reverse bear hug

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babycat
11:06
For one I would try not asking questions that start with “How do you recommend grooming a child?”
11:06
lol people just have bad connotations with it, is it grooming to have your kid play hockey with you and watch games so they want to play when they turn 6?
Dkk
11:06
@EvolBunny: Maybe, maybe but I think the TBI is better advice.
11:07
yes, is it bad?
gtown baby talk to me .... i know ppl on reddit are mad at u rn maybe like give some As so ppl chill out (mad for valid reason)
Dkk
11:07
From google "TBI stands for traumatic brain injury, which is an injury to the brain caused by an external force"
LSDFan
11:07
all SF operators have TBI's
11:07
@shaquilleoatmeal: what do you mean by invite, interview invite?
11:07
all serial killers drank milk as childs
11:08
children*
11:08
whoore*
BulbasaurNoLikeCardio
11:08
@LSDFan: They call it operator syndrome now at the VA
LSDFan
11:09
lol
11:09
I thought it was door kicker syndrome from all the breaching
Dkk
11:09
Ahh childhood, what a sweet sexual time of discovery. Takes me back.
BulbasaurNoLikeCardio
11:09
Who knew firing thousands of rounds and being next to explosions was bad for our brains
11:09
It is almost like the people doing that used to die fast
11:10
Didnt plan on anyone living long enough lol
11:10
I long to die on a european battlefield
11:10
thats the true white mans burden
11:10
calm down mostly putin
babycat
11:10
yeah fuck gtown btw
LSDFan
11:10
they don't even kick doors. They put C4 in a dip can and tape it to the wall
11:10
I am sure they kick some doors but yes
11:11
@EvolBunny: im a uki
babycat
11:11
terrible admin
BulbasaurNoLikeCardio
11:11
@babycat: I wonder why gtown felt what they said was a good idea and how secure that individual felt in their job to believe there would be no backlash.
Dkk
11:11
please, tell me more about Europa: The Last Battle @MostlyLegal
11:11
nothing you dont already know
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