The Indian financial market was introduced to the reverse mortgage loan (RML) in 2007, allowing pensioners older than 60 years of age secure a steady stream of income to pay for their daily expenses. It allows an individual to borrow from their home’s equity without paying any mortgage payments. It is a great option for seniors who own a house; RMLs usually disburse 40% to 50% or a residential property’s market value, which can accumulate to a significant amount and compare with other feature-rich secured credits like a loan against…
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