Business Daily from THE HINDU group of publications
Thursday, Mar 20, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Mar 20, 2008 ePaper | Mobile/PDA Version |
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Opinion
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Letters Reverse mortgage This is with reference to the article `It is still early days for reverse mortgage in India' (Business Line, March 15), wherein it is reported that as 25 per cent of aged population will be living either alone or with their spouses by 2015, reverse mortgage will pick up by then. Notwithstanding the statistical calculations, reverse mortgage may not be popular. This is because every Indian has a sentimental attachment for the property he has inherited or acquired. Even when his/her child(ren) neglect him/her for economic and other reasons, the senior citizen is prepared to reduce his/her needs and bequeath his property to his/her child(ren). So, the scheme, though logical, may not be as popular as expected. P. E. Muthu, Mumbai
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