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reverse-annuity mortgage

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:
  1. 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 ...
     
  2. 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 ...
     
  3. 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 ...
     
  4. 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.
     
  5. 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 ...
     
  6. 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 ...
     
  7. 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 ...
     
  8. Reverse Annuity Mortgage Program - Housing Division
    The program enables senior Montana homeowners to more substantially provide for their own in-home support.