What is Reverse Mortgage Loan? | How do reverse mortgages work? [0MR1Scn7gXL]
#finance #mortgage #tax #retirementplanning Bank will pay you EMI till you Die🤩 The loan amount is dependent on the value of house property as assessed by the lender, age of the borrower(s) and prevalent interest rate. Reverse Mortgage Loan (RML) enables a Senior Citizen i.e. above the age of 60 years to avail of periodical payments from a lender against the mortgage of his/her house while remaining the owner and occupying the house. The maximum period of the loan is 20 years. (The maximum period over which the payments can be made to the reverse mortgage borrower). The loan amount may be used by the Senior Citizen borrower for varied purposes including up-gradation/ renovation of residential property, medical exigencies, etc. However, use of RML for speculative, trading and business purposes is not permissible. 👇 Full details including eligibility, conditions, and scheme benefits are covered in this video. 💬 Have you heard of Reverse Mortgage before? Tell us your thoughts in the comments. 🔔 Don't forget to subscribe @PoojaWadhwa.official for more valuable financial tips and smart money strategies. Topic Covered: What Is Reverse Mortgage, How It Can Help Senior Citizen, Reverse Mortgage Explained, Reverse Mortgage Loan - Explained in Hindi, What is Reverse Mortgage Loan, Reverse mortgage loan on residence, Reverse Mortgage Explained - How Do They Work, Reverse Mortgage Scheme in Bank, Fixed income from bank against property, How do reverse mortgages work, Reverse Mortgage लोन क्या होता है, What is Reverse Mortgage Loan, Reverse Mortgage in India, Reverse Mortgage Scheme, Reverse mortgage Loan, reverse mortgage India, monthly income from home, how to earn money from house, senior citizen pension schemes, retirement planning India, house mortgage for pension, financial freedom after 60, best reverse mortgage scheme #reversemortgage #financialfreedom #passiveincome #moneyfromhome #indianbank #retirementplanning #realestatetips #seniorcitizens #finance #homeloan #financeexplained #shortsviral #moneytips #loans #loantips #reversemortgage #governmentscheme #scheme Disclaimer - Pooja Wadhwa is not a SEBI-registered research analyst. The content shared is for educational and informational purposes only. We do not provide investment advice or confirm any stock, crypto, or asset. Please consult a licensed financial advisor before making any decisions. Connect with us on all Social Media : Email - [email protected] Instagram / poojawadhwa.official Facebook / Pooja Wadhwa