Reverse Mortgage is the only way, how retired & elderly can raise bank loans & how Seniors can raise funds from Banks & FIs for their genuine needs.
In this Video Tutorial, we discuss how even the Senior Citizens/ Elderly People/ Retired People can still raise Loans from Banks & Financial Institutions? Most senior people & retired people assume that there is no way that they can raise any kind of loans from any bank or financial institution because of their age & physical disabilities. We break that myth here.
“Reverse Mortgage” is the only way, how retired and elderly can raise bank loans & how seniors can raise funds from various Banks & Financial Institutions to meet their genuine needs. These loans can be used in any manner by the senior citizens be it for their personal use or to meet any medical emergencies or to conduct marriages or simply for any purposes. Most people are simply not aware of this scheme. It’s called “Reverse Mortgage”.
This is a different type of mortgage which is gaining momentum everywhere. Reverse mortgage loans are available only to senior citizens whose needs cannot be met with their current income levels or based on their retirement benefits. Find out more & help senior citizens who are in real need of money.
Reverse mortgage is a type of mortgage where the home is mortgaged to the bank or lender and a major loan is raised to meet the necessities. But here the home owners don’t have to make any monthly payments and the interest is also not due until the loan reaches maturity. Here all the payments including interest is deferred to a later date.
The only condition is that, it is an absolute must that the home owner continues to reside in the same property as “Primary Residence” and pay their property taxes, insurance and other dues to Government and other authorities very regularly.
While a traditional home mortgage loan demands that the house owner pay monthly EMI payments regularly over a specified period, the reverse mortgage payments & interest is not due until the loan reaches maturity.
