answer:Simply stated, mortgage is a loan to purchase a house, which is paid off over many years and costs many thousands af dollars in interest over the life of the loan. Once the mortgage is completely paid off, the house is property of the morygagee, or homeowner. A reverse mortgage is a type of home equity loan in which the homeowners receive a loan in the form of monthly payments, and the loan is paid off when the borrower dies or moves out of the house.