Reverse Mortgage

I talked about having a scheme for banks to provide money on the house I own. It seems someone has heard it. The National Housing Bank has launched a new scheme called the reverse mortgage through which you can get the money for your home that too without selling it.

2 comments:

  1. Do you think that this scheme willl have adequate demand???

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  2. Alex,

    The demand will depend on the actual offer by the banks. The devil lies in the details. Also I think today's senior citizens may be a bit skecptical about it.. that is because of the generation they are from.. but people from next generation who are currently in their 50's... they would probably be more willing to go for the scheme since they anyway have more spending habits... also it should be hit across certain sections of society like ppl retiring from govt jobs since they proly havnet got enough savings.. but their kids would be earning good.. i am not exactly sure.. but i guess it should be reasonably hit....

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