What is reverse mortgage and how it can help
By Manisha Natarajan | Published On: July 17, 2012 19:38 (IST) | Duration: 5 min, 40 sec
In this segment of the latest episode of The Property Show, we take a look at reverse mortgage and how senior citizens who own a property but do not have a regular source of income can use this facility to their benefit. Anil Rego, CEO and founder, Right Horizons, explains that reverse mortgage allows the owner of the property to pledge the asset with a bank, and the bank in return pays out monthly annuity to the owner. Any house owner above 60 is eligible for this facility.