SWOT Analysis of Reverse Mortgage in India vis-à-vis USA Market

Abstract

In a country like India, owning a home is one of the most cherished dreams for every individual. Being a home owner, most of the people feel pride in the young age and protected in the old age. Senior Citizens are a growing section of the Indian economy and dependency in old age is increasing day by day. There is significant increase in longevity and low mortality, on the other hand cost of good health care facilities is growing and there is little social security. Senior Citizens need a regular cash flow stream for supplementing pension or other income and addressing their financial needs. Increase in residential house prices has created considerable scope for the reverse mortgage. Government of India introduced the Reverse Mortgage Scheme in its budget 2007-08.