Reverse mortgage is good for old aged people

Reverse mortgage is googd for the old aged people who cross the 62 years and don’t have any source of income.

Reverse mortgage decided on the basis of market value of you property or the credit value.

Reverse mortgege interest rate is lower than the other mmortgage anyone who has cross 62 years can apply for the reverse mortgage .You don’t need to pay the installment amount till the date you use your property as for your own living .You can use it for any commercial purpose.When you want to sell the property than first you need to pay the mortgage debt to the bank ,or after sale first you need to clear the mortgage debt than you get the remaining portion .

You don’t need to produce your income state ment for getting this loan and also there is no issue if you miss the installment payment.