With high market prices for homes, for many elderly Canadians, the most important source of retirement income will be the equity they have in their homes. is a secured loan that allows older Canadians to generate income using the equity in their homes without having to sell this asset and in many cases, the mortgage does not have to be paid back until the death of the borrower. A Mortgage-Backed Security Mortgage Stress Test Mortgage Term Reverse Mortgage E Conventional Mortgage
With high market prices for homes, for many elderly Canadians, the most important source of retirement income will be the equity they have in their homes. is a secured loan that allows older Canadians to generate income using the equity in their homes without having to sell this asset and in many cases, the mortgage does not have to be paid back until the death of the borrower. A Mortgage-Backed Security Mortgage Stress Test Mortgage Term Reverse Mortgage E Conventional Mortgage
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Concept explainers
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Question
Transcribed Image Text:With high market prices for homes, for many elderly Canadians, the most important source of retirement income will be the equity they have in their homes. A
is a secured loan that allows older Canadians to generate income using the equity in their homes without having to sell this asset and in many
cases, the mortgage does not have to be paid back until the death of the borrower.
A
Mortgage-Backed Security
B
Mortgage Stress Test
C
Mortgage Term
D
Reverse Mortgage
E
Conventional Mortgage
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