Everything You Need to Know About Reverse Mortgage Loan

REVERSE MORTGAG E A reverse mortgage loan is a unique credit option.

Introduction to reverse In a reverse mortgage, the lender mortgage uses the equity of your home as security to provide you with a tax-free loan. As it is used by older homeowners to receive income from the equity in their home to be repaid when they no longer occupy the home.

Reverse mortgage benefits is that it ensures financial wellbeing in old age and provides monetary independence to senior citizens. It does not create immediate financial liability on the borrower as he/she does not need to repay the loan amount in EMIs.

With reverse mortgage you can finance your: Debt consolidation Living expenses Home improvements Helping children with college Buying another home that might better meet your needs as you age

THANK