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