An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free payments from the lender. also called reverse mortgage or home equity conversion mortgage.
Related information about reverse-annuity mortgage:
- Reverse Annuity Mortgage - Financial Dictionary - The Free Dictionary
A loan borrowed against the value of one's home. In this situation, the lender gives the borrower the amount of the loan and the borrower makes no payments ...
- What is reverse-annuity mortgage? definition and meaning
Definition of reverse-annuity mortgage: An arrangement in which a homeowner borrows against the equity in his/her home and receives regular monthly tax-free ...
- CHFA - Reverse Annuity Mortgage Program
The Reverse Annuity Mortgage Program (RAM) offers lump sum loans and or monthly installment loans to elderly homeowners with long-term care needs over a ...
- Reverse Annuity Mortgage (RAM): Definition from Answers.com
mortgage instrument that allows an elderly person to live off the equity in a fully paid-for house. Such a homeowner would enter into a reverse annuity.
- Reverse Annuity Mortgage: (A mortgage article from CityTownInfo)
A reverse annuity mortgage (RAM), home equity conversion mortgage (HECM), or reverse mortgage (RM), is a mortgage where an elderly borrower (62 years ...
- What is reverse annuity mortgage? definition and meaning
Definition of reverse annuity mortgage: Loan secured by a borrower's accumulated equity in his or her home, and where the borrower receives periodic ...
- Introduction to Reverse Annuity Mortgages
The result, therefore, can be a huge need for additional retirement income, and that's where the concept of the reverse annuity mortgage comes in. It effectively ...
- Reverse Annuity Mortgage Program - Housing Division
The program enables senior Montana homeowners to more substantially provide for their own in-home support.