REVERSE-ANNUITY MORTGAGES (R.A.M.S)


Meaning of REVERSE-ANNUITY MORTGAGES (R.A.M.S) in English

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 .

Campbell R. Harvey. Hypertextual finance English glossary.      Английский словарь гипертекстовых финансов.