mortage loan to buy ahouse

safira_mendes · Joined: 08 Jun 2007 Posts: 1 1.29 Dollars($)

Post Your detailed question here.
since i am going to retire next year, i
need a mortage loan to buy a house in
goa. i can mortage my house to get a loan

sara · Posted: Fri Jun 08, 2007 3:54 am Post subject: RE:

Hi Safira,

You can definitely keep your house as the security in order to get a mortgage loan. But before you consider such a loan, just see that you contact the right person to get a loan. Also, you need to ensure that the lender helps you to select the loan package that will suit you the best. Consider your finances and liabilities before you make a choice of the loan program.

As you'll be retiring next year, debts and liabilities may bother you. So, it's best to analyze your financial situation before taking the decision to go for a particular loan offer.

Take Care

helping_user

Hi Safira,

Since you are retiring by next year, I think reverse mortgage will be a good choice.

In India, reverse mortgages are offered by Dewan Housing Finance Corporation Limited. You may check all about reverse mortgage in india from a discussion in which the community participated.

Thanks.

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