When a Lender Uses Your House as Collateral to Buy

question 47

Multiple Choice

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

• A)an obverse annuity mortgage.
• B)mortgage life insurance.
• C)a reverse mortgage annuity.
• D)a fixed annuity with level premium.
• E)whole life insurance.

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Definitions:

Sense

A physiological capacity of organisms that provides data for perception, such as sight, sound, smell, taste, touch, and proprioception.

Vision

Vision is the faculty of the eyes to perceive the environment through the light that enters them, allowing humans and other organisms to navigate, identify, and interact with their surroundings.

Hearing

The sensory process by which sound is perceived through the ears and interpreted by the brain.

Smell

A sense involving the detection and identification of molecules in the air, processed by olfactory sensors in the nose.