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When a Lender Uses Your House as Collateral to Buy

question 130

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When a lender uses your house as collateral to buy an annuity for you from a life insurance company, it is called:


Definitions:

Common Stock

A type of equity security that represents ownership in a corporation, including voting rights and a share of profits through dividends.

Account Payable

An obligation or liability of a company to pay a debt owed to a creditor or supplier for goods and services received.

Common Stock

A form of corporate equity ownership, a type of security that represents ownership in a corporation and a claim on a part of the corporation's profits.

Current Ratio

An indicator of a company's capability to cover its short-term liabilities with assets that can be quickly converted to cash.

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