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Glossary > R > "Reverse-Annuity Mortgages (RAMs)" Definition

Reverse-Annuity Mortgages (RAMs)

Mortgages in which the bank makes a loan for an amount equal to a percentage of the appraisal value of the home. The loan is then paid to the homeowner in the form of an annuity.

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Reverse-Annuity Mortgages (RAMs) - Mortgages in which the bank makes a loan for an amount equal to a percentage of the appraisal value of the home. The loan is then paid to the homeowner in the form of an annuity.

Reverse-Annuity Mortgages (RAMs) : mortgages in which the bank makes a loan for an amount equal to a percentage of the appraisal value of the home. the loan is then paid to the homeowner in the form of an annuity.