ReversePaymentPlanEnum

Title
ReversePaymentPlanEnum

Description
Specifies the manner in which loan proceeds are paid out to the borrower.

Used By
\MESSAGE\DEAL_SETS\DEAL_SET\DEALS\DEAL\LOANS\LOAN\REVERSE_MORTGAGE\ReversePaymentPlanType ( ReversePaymentPlanType )

Codes
Value Description
LineOfCreditThe entire loan amount is available as a line of credit as long as the borrower occupies the property. Interest is only paid on the funds withdrawn for use.
ModifiedTenureReceive equal monthly proceeds for as long as the borrower occupies the property and has the option to draw against a line of credit.
ModifiedTermReceive equal monthly proceeds for a fixed period of time and has the option to draw against a line of credit. The borrower must occupy the property to receive the monthly proceeds.
Other
TenureReceive equal monthly proceeds for as long as the borrower occupies the property.
TermReceive equal monthly proceeds for a fixed period of time. The borrower must occupy the property to receive the monthly proceeds.