reverse annuity mortgage
noun
a type of home mortgage under which an elderly homeowner is allowed a long-term loan in the form of monthly payments against his or her paid-off equity as collateral, repayable when the home is eventually sold. Abbreviation: RAM
Also called
equity conversion,
reverse mortgage.
Words nearby reverse annuity mortgage
reversal film,
reversal plate,
reversal process,
reverse,
reverse angle shot,
reverse annuity mortgage,
reverse apartheid,
reverse bar,
reverse bevel,
reverse bid,
reverse colles' fracture