by a borrower's accumulated equity
in his or her home, and where the borrower
receives periodic payments (instead of a lump sum) from the lender
(or from an annuity
set up from the loan-proceeds). Preferred typically by older or retired
individuals or couples (who have paid out the original mortgage
and continue to live in the property) upon whose death
is sold to pay off the loan. RAM is one of the means of converting a 'frozen' asset (home) into a 'liquid' asset (cash).