reverse annuity mortgage

variants: or reverse mortgage

Definition of reverse annuity mortgage

: a loan against home equity that provides an annuity to the homeowner and is repayable at the time the home is sold

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First Known Use of reverse annuity mortgage

1969, in the meaning defined above

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The first known use of reverse annuity mortgage was in 1969

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Cite this Entry

“Reverse annuity mortgage.” Dictionary, Merriam-Webster, Accessed 29 Oct. 2020.

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