A reverse mortgage loan is a type of credit that senior citizens can avail when they mortgage their own property. A senior citizen is provided with a certain percentage of the value of the mortgaged property in the form of the loan. The funds are disbursed to such an applicant periodically. The loan money can suffice the needs of a retiree.
The reverse mortgage loan facility also lets senior citizens get money as monthly payments to pay for any emergency or as per their needs.
For more information about reverse mortgage loan you can visit bajaj finserv website.
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