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reverse annuity mortgage

American  

noun

  1. a type of home mortgage under which an elderly homeowner is allowed a long-term loan in the form of monthly payments against their paid-off equity as collateral, repayable when the home is eventually sold. RAM

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.

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