reverse mortgage

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun A mortgage in which a homeowner, usually an elderly or retired person, borrows money in the form of annual payments which are charged against the equity of the home.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun An agreement under which money is borrowed to be repaid only when the borrower sells their home or dies or moves.