In a traditional mortgage, you borrow money in lump sum right from the start and then pay it back using EMIs over a period of time. Reverse mortgage is a form of mortgage in which a householder can borrow money against his home’s valuation. Reverse mortgage reflects the loan granted to senior citizens against their own properties for their monthly expenses. The loan is granted until the death of the owners and the balance is collected against the property after their death. The National Housing Bank in India is proposing a system in which the term is 15 years and the house’s owner and his / her partner continue to live in it till their death-which could come later than the reverse mortgage holding.