Reverse annuity mortgage loan means a mortgage loan in which either the loan proceeds are used to purchase an annuity with the annuity proceeds to be advanced to the mortgagors, or the loan proceeds are directly advanced to the mortgagors, in ten or more installments, either directly or indirectly, and which together with unpaid interest, if any, are to be repaid in accordance with section 528.7.89 Acts, ch 267, §2; 2012 Acts, ch 1017, §125
Reverse annuity mortgage loan means a mortgage loan in which loan proceeds are advanced to the mortgagors, in installments, either directly or indirectly, and which together with unpaid interest, if any, is to be repaid in accordance with subdivision (2) of subsection (e) of this section; and
Reverse annuity mortgage loan means a loan secured by a lien on real estate in which either the loan proceeds are used to purchase an annuity or are advanced to the mortgagor(s) in periodic install- ments in accordance with Iowa Code chapter 528.
More Definitions of Reverse annuity mortgage loan
Reverse annuity mortgage loan. ] "Reverse annuity loan" means