Things You Should Know About Reverse Mortgage Loans

1
Reverse mortgage loans What you should know
2
Understanding reverse mortgage loans

• You get regular monthly payments by mortgaging
  your property.
• It offers a maximum LTV of 80.
• Available for a maximum tenure of 15 years.

3
Understanding the working of reverse mortgage
loans

• Instead of making payments, you receive payments.
• Interest is added to the loan balance.
• You can repay your debt by selling your property.

4
Reverse mortgage benefits

• You can secure your retirement.
• There are no tax implications on the pay-outs.
• It provides legal heirs with several repayment
  options.
• You can spend your entire life in a mortgaged
  home.
• It offers usage flexibility and has a low default
  chance.

5
Reverse mortgage disadvantages

• Interest gets accumulated over time.
• Foreclosure can cause you to lose your home.
• Complex terms and conditions.
• You need to reside in the mortgaged property.

6
Reverse mortgage qualifying conditions

• Available to senior citizens only.

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When to apply for a reverse mortgage?

• When property appreciation chances are high.
• Apply if you want to age in your home.
• Apply if you do not have any source of income.

8

• If you are retired and wish to apply for a
  reverse mortgage loan, carefully consider the
  benefits and drawbacks.

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Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel [phone]
Email customer.care_at_herofincorp.com
Website https//www.herofincorp.com/
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