All about Reverse Mortgage

What is a ‘Reverse Mortgage’ Scheme?

What is Reverse Mortgage Scheme; Lifetime Mortgage

What is Reverse Mortgage? A reverse mortgage (or lifetime mortgage) is a loan available to senior citizens. The finance minister of India  introduced this scheme in 2007 which is already well known concept in the West. “Reverse mortgage”, as its name suggests, in simple words is just the  opposite of a normal housing loan.  Image Credit : <Link> How does Reverse Mortgage Work? In this scheme,  once you pledge your house for the ‘reverse mortgage’, the bank will arrive at the value of the house […]

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