Showing posts with label LOAN - Reverse Mortgage. Show all posts
Showing posts with label LOAN - Reverse Mortgage. Show all posts

Reverse Mortgage: Needs to be Understood Both by the Seller and Buyer

Reverse Mortgage: Needs to be Understood Both by the Seller and Buyer
by Ms. Deepti Bhaskaran It’s a pension product that needs to be understood both by the seller &  buyer There are broadly three pillars on which the pension system of any country stands: state funded, employer funded & self-funded pensions. Different countries use di…
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REVERSE MORTGAGE : Income Tax Benefit in India

REVERSE MORTGAGE : Income Tax Benefit in India
Section 10 (43) of  Indian Income tax Act 1961 deals with exemption of income under reverse mortgage system. According to this section any amount received by an individual as a reverse mortgage loan, either in lump sum or / in installment, in a transaction of reverse mortgag…
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Reverse Mortgage: Would Not Attract tax if you are above 60 years...

If your parents are considering a reverse mortgage, here is a festival bonanza. The central government has made the return from mortgaging their house to earn a monthly income more attractive. Now, the annuity income from a reverse-mortgage loan will become tax-free. The go…
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Reverse Mortgage Scheme extended till life of borrower

Reverse Mortgage Scheme extended till life of borrower
With an aim to make the reverse mortgage facility more attractive for senior citizens, the central government has extended the period of the scheme from 20 years to the life of the person seeking funds from banks by pledging his residential property. This has been done by am…
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Definition - Reverse Mortgage

Definition  - Reverse Mortgage
A type of mortgage in which a houseowner can borrow money against the value of his or /  her house. No repayment of the mortgage (principal or /  interest) is required until the borrower dies or /  the home is sold. After accounting for the initial mortgage amount, the rate…
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Are You Planning to Reverse Mortgage Your Home?

Are You Planning to Reverse Mortgage Your Home?
by Mr. B. Venkatesh, Navera Consulting The new version appears attractive, especially if you are looking to receiving a stable income and yet, leave a legacy for your children. If you are in your retirement risk zone ( within ten years of retirement) or if you have just retir…
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Reverse Mortgage Loan Yet to Pick Up Owing to Social Reasons: NHB says

Reverse Mortgage Loan Yet to Pick Up Owing to Social Reasons: NHB says
Promote reverse mortgages further, NHB (National Housing Bank) proposes to partner with more banks & insurance companies in future. Social Reasons..! Though the NHB introduced reverse mortgage loans for senior citizens in 2007, reverse mortgages business is yet to pick up…
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