reverse mortgage

(redirected from reverse annuity mortgage)
Also found in: Financial, Acronyms, Encyclopedia.

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.
References in periodicals archive ?
Reverse annuity mortgages, also known as home equity conversion mortgages, or reverse mortgages, were developed to address this need.