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reverse annuity mortgage

   Also found in: Acronyms 0.06 sec.
reverse annuity mortgage
A mortgage in which a homeowner's equity is gradually depleted by a series of payments from the mortgage holder to the homeowner. Thus, a reverse annuity mortgage increases in size as the annuity payments continue. A reverse annuity mortgage is used primarily by elderly homeowners who wish to convert the equity in their homes into a stream of retirement income payments.
reverse annuity mortgage
See reverse mortgage.


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