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Lifetime reverse mortgage

Definition:

A type of mortgage in which a homeowner borrows against the value a home, while retaining title, and making no payments while residing in the home. When the owner ceases living in the house, the property is sold, and the loan repaid.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Price value of a basis point (PVBP)

Also called the dollar value of a basis point; a measure of the change in the price of a bond if the required yield changes by one basis point.

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