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Is there a difference between a reverse mortgage and a reverse annuity mortgage?

In: Loans, Mortgages, Home Equity and Refinancing, Annuities, Money Management, Retirement Planning [Edit categories]

Answer:

The terms are similar and both relate to reverse mortgages, however a reverse annuity mortgage often refers specifically to reverse mortgages where the borrower chooses to receive monthly payments from the lender rather than getting a lump sum of cash upfront or a line of credit.

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First answer by Reversemymortgageguy. Last edit by Reversemymortgageguy. Contributor trust: 0 [recommend contributor ]. Question popularity: 1 [recommend question].

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