What is reverse mortgage? How is it beneficial? http://www.easyfinance.in/

In a reverse mortgage, http://www.easyfinance.in/ the property is pledged with an end goal of liquidation. The lender pays a monthly EMI to the person who has taken the reverse mortgage for a fixed pre-decided period of time. http://www.easyfinance.in/ At the end of these payments, the property belongs to the lender. The concept of a reverse mortgage is not prevalent in India. http://www.easyfinance.in/ This product is extensively sold in developed countries to ageing individuals who own property. http://www.easyfinance.in/ There are variants available which provide payments till the individual is alive, as against a fixed time period. Such products benefit elderly people who have no steady sources of income for their expenses, but own lien free property. http://www.easyfinance.in/