Super Finance Glossary
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Searched for Reverse-annuity mortgage
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Reverse-annuity Mortgages (RAM)
Definition: Bank 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.
Definition: Bank 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.
