Thursday, July 2, 2009

Reverse Mortgage



Reverse Mortgage
Reverse Mortgage is an innovative loan instrument in the making, especially designed for the elders. Reverse mortgage is a way to borrow against one’s house to create a regular stream of retirement income while continuing to live in that house. Reverse Mortgage is still in a nascent form in India. Though, in U.S.A and other European Countries, the instrument is already quite popular, In the following sections, we explain the concept of reverse mortgage, the factors responsible for its popularity, how it works and the steps required to be initiated by the authorities to introduce the instrument in India.

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