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

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Question 1 of 10
What does “barren” mean?
Also called equity conversion, reverse mortgage .
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020