Irreversible mortgage.

Spanish translation: hipoteca no invertible por su naturaleza

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Irreversible mortgage.
Spanish translation:hipoteca no invertible por su naturaleza
Entered by: yugoslavia

06:04 Feb 24, 2024
English to Spanish translations [PRO]
Bus/Financial - Finance (general) / Banking and mortgage terminology.
English term or phrase: Irreversible mortgage.
I would like to know the best translation of this phrase from American English to Central American Spanish.

Colleagues from Spain, feel free to send me your suggestions as well.

It's a translation of a legal deposition done to someone from "El Salvador" who experienced an accident in her job. This was done for an American attorney and a witness from this country.

This is for Latin People living in The United States and Americans. Is okay to translate it as hipoteca irreversible?

Here is the full paragraph for your review:

Yo compré esa casa de dos unidades en California. Yo apliqué por ese programa financiero del gobierno de California que pagaba las cuotas mensuales de mi casa. Yo solo pago los intereses y los impuestos de esta propiedad. Yo califiqué para ese programa porque yo soy una mujer de edad avanzada.
yugoslavia
United States
Local time: 10:44
hipoteca no invertible por su naturaleza
Explanation:
The term is given out of context, but looks like an '*equity* release or non-reversionary mortgage' in UK terms.

hipoteca revertida : reverse mortgage 'a mortgage in which the borrower receives periodic payments from the lender, based on the accumulated *equity* in the underlying property', West

Perchance non-Pro voters could elucidate, expand and elaborate on their noble stance, as irreversible / hipoteca irreversible literally makes little sense to me as an erstwhile conveyancer.
Selected response from:

Adrian MM.
Austria
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
3hipoteca no invertible por su naturaleza
Adrian MM.


Discussion entries: 2





  

Answers


9 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
irreversible mortgage
hipoteca no invertible por su naturaleza


Explanation:
The term is given out of context, but looks like an '*equity* release or non-reversionary mortgage' in UK terms.

hipoteca revertida : reverse mortgage 'a mortgage in which the borrower receives periodic payments from the lender, based on the accumulated *equity* in the underlying property', West

Perchance non-Pro voters could elucidate, expand and elaborate on their noble stance, as irreversible / hipoteca irreversible literally makes little sense to me as an erstwhile conveyancer.


Example sentence(s):
  • A reverse mortgage loan is a unique loan that allows homeowner(s) 62 years of age and older to draw on the value of their home, which is paid to the homeowner(s) in a variety of payout options or used as a line of credit.
  • Si tiene más de 62 años y es propietario de una casa, una hipoteca inversa puede ayudarlo a convertir el valor líquido de su casa en efectivo.

    Reference: http://www.proz.com/kudoz/english-to-spanish/finance-general...
    Reference: http://dcba.lacounty.gov/portfolio/reverse-mortgages/
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 28
Notes to answerer
Asker: Thanks for your help Adriann. I wrote the context in the Kudoz question. I will copy and paste it for you. Yugoslavia

Asker: Yo compré esa casa de dos unidades en California. Yo apliqué por ese programa financiero del gobierno de California que pagaba las cuotas mensuales de mi casa. Yo solo pago los intereses y los impuestos de esta propiedad. Yo califiqué para ese programa porque yo soy una mujer de edad avanzada.

Asker: Muchas gracias Adriann. Yugoslavia

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