{"iri":"http://lmss.sali.org/RDOzei3yd81OLmFKtURxjZx","id":"RDOzei3yd81OLmFKtURxjZx","label":"Reverse Mortgage Agreement","definition":"A Reverse Mortgage Agreement is a financial contract that allows homeowners, usually seniors, to convert part of their home equity into cash while retaining ownership of their home. Unlike a traditional mortgage, borrowers do not make monthly payments to the lender; instead, the loan amount, along with interest and fees, is repaid when the homeowner sells the property, moves out permanently, or passes away.","prefLabels":[],"altLabels":[],"examples":[],"notes":[],"sources":[],"branch":{"iri":"http://lmss.sali.org/RDt4vQCYDfY0R9fZ5FNnTbj","label":"Document / Artifact"},"parents":[{"iri":"http://lmss.sali.org/R88D8i8AcSTUig2X3yPbFHg","id":"R88D8i8AcSTUig2X3yPbFHg","label":"Agreements"}],"children":[],"relations":[],"url":"https://lmss.io/tag/RDOzei3yd81OLmFKtURxjZx/","source":{"repo":"sali-legal/LMSS","ref":"3f9ac0c9357b2a971582ae79ede243511d47811d","channel":"pre-release"}}