Reverse Mortgage Serves a Different Purpose Altogether

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Reverse Mortgage Loan

• Beneficial For Senior Citizens

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What is Reverse Mortgage?

• A reverse mortgage loan falls under the loan
  against property scheme which is specially
  designed for the senior citizens and retired
  individuals residing in India. Pensioners who do
  not have a regular source of income can apply for
  this mortgage financing to borrow funds for
  creating a source of income.
• There are several reasons why senior citizens
  should choose a reverse mortgage to create a
  source of income after their retirement. Lets
  take a look.

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Benefits of a Reverse Mortgage Loan

• Use Your Funds with Flexibility
• Valuation of Your Property
• Claim Tax Exemptions
• Avail Better Payment Options
• Better Interest Rates
• Avail Loan as Joint Applicants
• Low to Zero Risks

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Eligibility Criteria for a Reverse Mortgage?

• This loan is specially designed for senior
  citizens and retired individuals, thus the
  borrowers age must be at least 60 years.
• Applicants must be an Indian citizen.
• The property to be mortgaged should be the
  applicants permanent residence.
• The property being mortgaged must be at least 20
  years old.
• The house should be free from any legal
  obstructions in the

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Pros Of Reverse Mortgage Schemes

1. Immediate Financial Assistance Senior citizens
   might require immediate financial assistance
   after their retirement to maintain their
   lifestyle living habits.
2. No-Risk Of Defaulting Reverse mortgage loan in
   India has no risk of default. Even in the case of
   a borrowers demise, the mortgaged property can
   be used for repayment.
3. Minimal Requirements Generally, mortgage loans
   have numerous requirements including CIBIL
   scores, different documents, etc.

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Reverse Mortgage Scheme Advantages

• Reverse mortgage benefits ensures financial
  well-being in old age and provides monetary
  independence to senior citizens.
• Improvement In Immediate Finances
• Flexibility Of Use
• Low To No Defaulting Risk
• Repayment Benefit
• Minimum Requirements