Live from Financial Peace Plaza: --Select a talk shop topic and list it here: Take notes as you listen including a summary of the caller's situation and financial challenge, what information the caller needs in order to make a decision, and the advice Dave provides to the caller. Take a moment to reflect on the call and the advice provided by Dave. How can you use this advice as you move forward with your personal planning

In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.