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Vol. 2, Issue 3, Part A (2016)
Analytical study of inherent risk in reverse mortgage loans
Analytical study of inherent risk in reverse mortgage loans
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Abstract
Reverse Mortgage, is an innovative financial product for needy senior citizens in India. But as of now it has not taken off and there are very few takers for it. Reverse Mortgage is being launched in India by 23 banks and 2 HFCs from 2008, but only Rs 1800 crore is sanctioned and Rs. 800 crore is disbursed, as on 30 September 2013.According to conservative estimate, Reverse Mortgage market in India is of Rs. 20000 Crore.9 Many
Reverse Mortgage, is an innovative financial product for needy senior citizens in India. But as of now it has not taken off and there are very few takers for it. Reverse Mortgage is being launched in India by 23 banks and 2 HFCs from 2008, but only Rs 1800 crore is sanctioned and Rs. 800 crore is disbursed, as on 30 September 2013.According to conservative estimate, Reverse Mortgage market in India is of Rs. 20000 Crore.9 Many
PLIs has cited "Psyche of the Indians" which is working against this product. Dewan Housing, which is one of the largest housing finance companies. Has been able to sell only 4-5 reverse mortgage loans during the last two years. Few large financial institutions, including home finance lenders in the country, do not have reverse mortgage loan in their portfolio. Study aims in determining inherent risk of product from both i.e. Lenders & Borrowers end.
Pages: 12-16 | 1134 Views 102 Downloads
How to cite this article:
Saurabh Padmakar Balote. Analytical study of inherent risk in reverse mortgage loans. Int J Appl Res 2016;2(3):12-16.
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