A mortgage where the interest rate fluctuates and is usually tied to an index; payment amount increases are capped for each period and for the term of the loan is called
a Reverse Annuity Mortgage (RAM).
a wraparound mortgage.
a participation mortgage.
an Adjustable-rate Loan (sometimes called an ARM).
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Home » Business » A mortgage where the interest rate fluctuates and is usually tied to an index; payment amount increases are capped for each period and for the term of the loan is called a Reverse Annuity Mortgage (RAM). a wraparound mortgage.