Unlike a regular mortgage, a reverse mortgage is a scheme wherein you can use your house property as collateral to avail a loan. The bank values and inspects your property and finalises the total loan amount. In contrast to a regular mortgage wherein you make periodic payments to the bank for the mortgage availed, the bank makes periodic payments to you in a reverse mortgage. The Government launched this scheme in India in the year 2007. How does a reverse mortgage scheme help you? Well, if you are a senior citizen with a self-owned house who is finding it hard …