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Updated by Alisha Antil on Jun 11, 2020
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Alisha Antil Alisha Antil
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Reverse Mortgage

What is Reverse Mortgage, Meaning and Benefits | Bajaj Finserv

Reverse mortgage gives the opportunity to people to pull equity out of their home by making it a solution which many older people are turning to help them through retirement. A reverse mortgage enables a senior citizen to receive a regular stream of income from a lender (a bank or a financial institution) against the mortgage of his property where he can pay out the loan in these related ways: lump sum amount, emi or monthly payments and line of credit.