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| al·ter·na·tive mort·gage in·stru·ment (plural al·ter·na·tive mort·gage in·stru·ments) |
noun |
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| Definition: |
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finance loan functionally equivalent to a mortgage: a variation of a traditional repayment mortgage, such as adjustable-rate and variable-rate mortgages, graduated-payment mortgages, and reverse-annuity mortgages
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