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RBI to issue norms for reverse mortgage

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Anindita Dey Mumbai

Reverse mortgage allows senior citizens with inadequate income sources to mortgage their own homes for a monthly stream of income for up to 15 years.

It involves a senior citizen borrower mortgaging the house to a lender, who then makes periodic payments to the borrower during the latter

 

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First Published: Apr 22 2008 | 12:00 AM IST

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