Reverse Mortgage: Encash Your Property In Retirement
One can continue to reside in the property and the loan, along with the interest gets repaid when the house is sold off after their demise or they choose to move out of the house.
One can continue to reside in the property and the loan, along with the interest gets repaid when the house is sold off after their demise or they choose to move out of the house.
Lenders offer different types of home loans in India based on the customer’s needs. Hence, selecting the right type of loan is vital to avoid unnecessary expenses and obtainfull benefits.
Senior citizens can considerably improve their chances of securing a home loan by implementing a few key strategies.
Are you looking for a loan after retirement? You must consider several factors such as loan repayment period, eligibility, interest rate, etc. After retirement, how to choose the appropriate loan instrument?
Niti Aayog recommends viable interest rate for senior citizens, additional concession for older women, amendments to reverse mortgage rules, tax reforms, etc. Learn more.
Senior citizens need to relieve themselves of debt as that will help them live a dignified life in retirement. Hence, they must weigh the advantages and disadvantages before taking on additional debt and seek expert advice on paying off their debt
There are many loan instruments available in the market, but each loan product has its own distinct features and applications. So, it’s important for senior citizens to choose the appropriate loan instrument in sync with their borrowing size and repayment capacity
After we retire from active professional life, like a job, business, or professional services, the regular cash flow is no more a recurrent event. It stops in most cases
You can use your house for regular payments after you retire. A reverse mortgage loan is such a product which allows you not only to get a regular payment but also the same house to live in till your death
Downsizing your home can be a smart financial move for senior citizens looking to boost their retirement savings. However, navigating the tax implications can be challenging. Here are some tax recommendations for elderly people.
ADVERTISEMENT