What is REVERSE ANNUITY MORTGAGE?

A loan using the equity in his home to secure another mortgage and gets lumo sums paid preiodically. The loan is paid when the house is sold after the borrowers death.

More On This Topic



Link to This Definition
Did you find this definition of REVERSE ANNUITY MORTGAGE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary