Definition and Citations:
A loan using the equity in his home to secure another mortgage and gets lumo sums paid preiodically. The loan is paid when the house is sold after the borrowers death.
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
A loan using the equity in his home to secure another mortgage and gets lumo sums paid preiodically. The loan is paid when the house is sold after the borrowers death.