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reverse mortgage
(redirected from reverse annuity mortgage)

   Also found in: Financial, Acronyms, Wikipedia 0.01 sec.
reverse mortgage
n.
A mortgage in which a homeowner, usually an elderly or retired person, borrows money in the form of annual payments which are charged against the equity of the home.


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In addition, estimation results for consumption functions with respect to various kinds of wealth suggest that the annuitization of wealth because of the maturing of public pensions and the introduction of reverse annuity mortgages is likely to further decrease the savings rate in the future.
Homeowners can also utilize reverse annuity mortgages (RAM) to finance LTC.
Almost none of this goes to long-term care, and reverse annuity mortgages don't sell, because Medicaid exempts the home - the government will pay.
 
 
 
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