At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to the person and the person may need to sell or transfer the property to repay the proceeds of the reverse mortgage from the proceeds of the sale or transfer or the person must otherwise repay the reverse mortgage with interest from the person's other assets. (reversemortgageoregon.com)
Traders built derivatives few could digest, home buyers didn't understand basic mortgage loan contracts, mortgage lenders didn't grasp loan to risk ratios, etc, and it blew up in everyone's face. (religion.blogs.cnn.com)
Add a mortgage loan contract to the bankruptcy mix, and a lot of misunderstanding can and has happened to many bankruptcy filers. (bankruptcyhome.com)