In a reverse mortgage loan, the borrower is not required to pay back the loan during their lifetime. Reverse mortgage is a type of loan available to elderly homeowners where they can convert a portion of the equity in their home into loan funds. The loan is typically repaid when the borrower permanently moves out of the home, passes away, or sells the property. Until then, the borrower does not make any monthly mortgage payments. Instead, the loan balance increases over time as interest and fees accumulate. The loan is usually repaid from the proceeds of the sale of the home.
RBI Innovation Hub and which of the following firm has signed a Memorandum of Understanding to give early-stage entrepreneurs with unique and disruptive...
Who has been appointed as the director of the National Health Authority?
What unique multi-lingual initiatives were launched by CDSL to enhance accessibility in the capital market landscape, and who launched them?
Chief of Army Staff General MM Naravane presented Presidential Colours to _______ parachute battalions at Parachute Regiment Training Centre in Bengaluru.
What is the focus area of the India-Slovenia Programme of Cooperation (PoC) for 2024–2029?
Recently PM Modi opens 75 digital banking units, which of the following public sector bank opens highest number of Digital Banking Units?
Consider the following about the recent launches portals of Bureau of Indian Standards (BIS):
I. Bureau of Indian Standards (BIS) has launched a ...
What percentage of net NPAs is considered for the invocation of the PCA framework for UCBs?
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Who manages the Ministry of Rural Development?
