As with regular mortgages, the loan is provided based on the property equity of the homeowner. However, in this case, even with the equity secured the homeowner can still enjoy the benefits of staying in the mortgaged home while paying the EMI to the mortgage lender. A Reverse Mortgage is a very good option for retired individuals over 62 years of age who would hate to move from home while the same is being mortgaged. Also they need not change their lifestyle, as the Reverse Mortgage amount would provide sufficient funds to maintain the existing one. Loans may be obtained
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