Glossary entry

English term or phrase:

Irreversible mortgage.

Spanish translation:

hipoteca no invertible por su naturaleza

Added to glossary by yugoslavia
Feb 24 06:04
2 mos ago
24 viewers *
English term

Irreversible mortgage.

English to Spanish Bus/Financial Finance (general) Banking and mortgage terminology.
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.
Proposed translations (Spanish)
3 hipoteca no invertible por su naturaleza
Votes to reclassify question as PRO/non-PRO:

Non-PRO (2): Pablo Cruz, Toni Castano

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Discussion

yugoslavia (asker) Feb 29:
Apologies Hi Miss Rosengard,

I have just got your message. My apologies for my delay. I was working very hard.

It's a State of California home mortgage program for senior citizens. I explained this below:

""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.""

Please let me know if you are able to see it.

Yugoslavia

Lisa Rosengard Feb 26:
Is it possibly a form of re-mortgage whereby a homeowner could draw some credit allowance from the value of his or her home and then begin to pay back a re-mortgage at an agreed rate? If the mortgage is irreversible then there's no possibility of re-mortgage.

Proposed translations

9 hrs
English term (edited): irreversible mortgage
Selected

hipoteca no invertible por su naturaleza

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:

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.

Note from asker:
Thanks for your help Adriann. I wrote the context in the Kudoz question. I will copy and paste it for you. Yugoslavia
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.
Muchas gracias Adriann. Yugoslavia
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4 KudoZ points awarded for this answer.
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