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| Definition Of: |
RAM
REVERSE-ANNUITY MORTGAGE
A loan under which the homeowner receives monthly payments based on his or her accumulated equity rather than a lump sum. The loan must be repaid at a prearranged date or upon the death of the owner or the sale of the property.
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BASSAM Finance Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 6 7 8 9 10 A: Page 1 of 10.
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