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LSDefine

Simple English definitions for legal terms

reverse annuity mortgage

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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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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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