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Home Loan, Mortgage Loan, Open Plot Mortgage Loans2023-02-14T02:27:18
Home Loan, Mortgage Loan, Open Plot Mortgage Loans
What is the difference between a Mortgage and a Reverse Mortgage? Difference between a mortgage and
What is the difference between a Mortgage and a Reverse Mortgage?
Difference between a mortgage and a reverse mortgage loan are as follows –
A mortgage loan provides finances against the mortgage of an immovable asset. A reverse mortgage loan provides funds against a residential property’s equity build-up.
The regular mortgage loan can be availed by mortgaging either a residential or a commercial property or machinery. But only a residential property, where the borrower resides, can be used for reverse mortgaging.