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Investing Glossary:
Reverse-annuity mortgages (RAM)
Copyright 2009,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Term: |
| Reverse-annuity mortgages (RAM)
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| Definition: |
| Bank 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.
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