New ixamBee Expert Talk Session by ex-GM, NABARD
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Question

Which of the following is not true about Reverse Mortgage?

A It is a special home loan product Correct Answer Incorrect Answer
B Homeowner aged 62 or older are eligible Correct Answer Incorrect Answer
C Loan is underwritten based on the value of the collateral (home) and the life expectancy of the borrower Correct Answer Incorrect Answer
D Borrower has to pay very low monthly EMI Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The correct answer is D

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