What is Reverse Mortgage?

What Does Reverse Mortgage Mean?

Key Features of Reverse Mortgage

How Does Reverse Mortgage Work?

Types of Reverse Mortgage Options in India

Benefits of Reverse Mortgage

Who is Eligible for a Reverse Mortgage Loan?

Conclusion

Coming Up Next

Repayment not Mandatory During Lifetime

Optional Repayment Plans

Prepayment Flexibility

Maximum Loan

Loan Tenure

Primary Residence

Property Revaluation

Application and Approval

Loan Disbursement

Accrual Of Interest

Loan Termination and Settlement

Why Would Mr Sharma Choose a Reverse Mortgage

1. Home Equity Conversion Mortgage (HECM)

2. Proprietary Reverse Mortgage

3. Single-Purpose Reverse Mortgage

Supplemental Income

No Need to Sell Property

Tax-Free Income

No Need to Repay the Loan

Heirs Can Choose to Retain Borrower's Property

Why Timely Loan Repayment is Important