reverse annuity mortgage

Definition of "reverse annuity mortgage"
  1. A loan secured by a borrower's home equity where the lender makes regular payments to the borrower
How to use "reverse annuity mortgage" in a sentence
  1. The elderly homeowner opted for a reverse annuity mortgage to supplement her retirement income.
  2. Using a reverse annuity mortgage, the retired couple was able to stay in their home while receiving a steady income.
  3. With significant equity in their property, they considered a reverse annuity mortgage for financial security during retirement.

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