Lake Area Bank

REVERSE MORTGAGE GLOSSARY

\| 2 \| A \| C \| D \| E \| F \| H \| I \| L \| M \| N \| O \| P \| R \| S \| T \| U \|
AARP model specifications	rules recommended by AARP for analyzing and comparing reverse mortgages
acceleration clause	the part of a contract that says when a loan may be declared due and payable
adjustable rate	an interest rate that changes, based on changes in a published market-rate index
annuity	a monthly cash payment you get from an insurance company for the rest of your life.
appraisal	an estimate of how much a house would sell for if it were sold; also called its market value
appreciation	an increase in a home's value
Area Agency on Aging (AAA)	a local or regional nonprofit organization that provides information on services and programs for older adults

REVERSE MORTGAGE 1030 West County Road E, Suite 150 Shoreview, MN 55126
Phone: 651-209-2900 Toll free: 1-866-321-1516 Fax: 651-209-2929

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