Reverse Mortgage

Reverse Mortgage in India:
This paper explores the prospects for reverse mortgage (RM) products in India. Developed countries are faced with severe budgetary constraints in sustaining their current universal and liberal old age social and income security (OASIS) programmes. Developing countries are slated to face acute problems in meeting the OASIS needs of their projected population of the elderly. Read in Detail

Reverse Mortgage
What is it and its future in India, an presentation courtesy IL & FS and Dignity Foundation, Read here

REVERSE MORTGAGE LOAN (RML): OPERATIONAL GUIDELINES
Senior Citizens are an increasing component of the Indian society and dependency in old age is increasing in the country. While on the one hand, there is significant increase in longevity and low mortality, on the other hand cost of good health care facilities is spiraling and there is little social security. Senior Citizens need a regular cashflow stream for supplementing pension/other income and addressing their financial needs. Secular increase in residential house prices has created considerable “home equity “wealth. For most Senior Citizens, the house is the largest component of their wealth. Conceptually, Reverse Mortgage seeks to monetize the house as an asset and specifically the owner’s equity in the house. The scheme involves the Senior Citizen borrower(s) mortgaging the house property to a lender, who then makes periodic payments to the borrower(s) during the latter’s lifetime. Read more

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