Hi friends,
Just read an article on reverse mortgage on caclubindia written by Ms. Dimple Thacker.
/articles/details.asp?mod_id=15420#.UIVUOmdZdSp
The article is written superbly... Infact i liked the concept a lot, but i think that this is not the right time to launch this scheme into india.
The main reasons why i think this concept will not work in india now is because of the following reasons:
1) This concept will only work in a place where there are nuclear families, india is no doubt moving towards it, but still the concept of joint familiy is still widely prevelant.
2) The parents usually in india prefer to pass on the property to their children, rather than sell it.
Please tell guys and gals what is your view???
CAclubindia
