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单词 Home Equity Conversion Mortgage (HECM)
释义

Home Equity Conversion Mortgage (HECM)

Definition
Also referred to as a Reverse Annuity Mortgage. A type of mortgage in which the lender makes payments to the owner, thereby enabling older homeowners to convert equity in their homes into cash in the form of monthly payments.
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更新时间:2025/5/8 21:03:05