The reverse mortgage must be the only debt against the home (AARP Foundation [AARP],2008).With a reverse mortgage,no repayment is required as long as at least one of the borrowers is living in the home.Typically borrowers must live in the home at least six months out of the year.The mortgage becomes due when the last borrower dies,sells the home,or permanently moves out.A permanent move is defined as 12 continuous months out of the home,such as the case if a homeowner needs to move into an assisted living arrangement or nursing home (AARP,2008).
反抵押贷款必须以房屋产权为抵押的唯一债务（美国退休人员协会基金[AARP],2008）.以反抵押贷款的方式,只要银行借款人之一至少在该住宅居住就无需偿还.如果最后的借贷人死亡、出售住宅或者永久迁出,抵押随即需要偿还.永久移居定义为迁居连续12个月从该住宅迁出,例如如果房主需要迁入援助寄养所或养老院这种情况.
The reverse mortgage borrower continues to own his or her home,and continues to be responsible for the upkeep and repairs,the property taxes,and hazard insurance.If a homeowner fails to keep up these responsibilities,the reverse mortgage can be called due and payable.Other reasons a reverse mortgage can be terminated include,but are not limited to,adding a new owner to the home’s title,taking out new debt against the home,filing for bankruptcy,or renting out part of the home (AARP,2008).Because no monthly payments are required,the loan balance continues to grow larger every month over the life of the loan.
反抵押贷款借贷人继续拥有他或她的住宅,继续承担维护费和维修、财产税和房屋保险.如果房主没有承担这些责任,反抵押贷款可称为具有贷款期满并偿还贷款的特征.其他反抵押贷款可以被终止的理由包括房契上增加新的业主、以房屋产权抵充新的债务、申请破产或者出租部分房产(AARP,2008),除非不受此理由的限制.因为不要求按月偿还,贷款差额在整个借贷期满内将会每月继续增长.