Outlook Money
Thanks to the reverse mortgage option, seniors can access funds without selling their property.
Reverse mortgage payments can be an additional income source for senior citizens, ensuring financial freedom and stability.
The homeowner is not required to EMIs; instead, the lender pays the borrower a set amount at a pre-determined frequency.
With a reverse mortgage, seniors can redeem their home equity while retaining its ownership, provided they live in the property.
Reverse mortgages offer payment alternatives such as a lump sum, monthly instalments, or any combination of credit lines.
Compiled By Himani Verma