Main Article Content
Abstract
Reverse mortgage as an innovative financial product allows senior citizens to mortgage their house property with a loaner and convert a part of the house equity into tax-exempt financial gain while not having to sell the house. Despite growth during this market and therefore the expected quality of the idea, the results aren't satisfactory in Asian nation. The most objective of this analysis is knowing the preference of various age teams on opting a retirement savings plan within the future and knowing their information or awareness of the idea of Reverse Mortgage Loans and therefore the practicability of Reverse Mortgage Loans among senior citizen in India. It’s seen that lifespan has increased significantly creating it necessary for the senior to travel for a retirement savings plan so as to beat the concern of outliving their pension/ financial gain. This research tries to study a selected geographic area relating Mumbai.