New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    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

    Practice Next