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					    REVERSE MORTAGE: AN ANSWER FOR OLD AGE PENSION
The projects involve study of Indian market potential with respect to specific
characteristics of relevance to reverse mortage namely- old age population and
sources of monetary support for elderly in India. It task into account the current
volumes in the U.S. reverse mortage markets and also various empirical
estimates. The project explores prospects of reverse mortage products in India.



      The title of the project is “REVERSE MORTGAGE”. The main objective
behind the study was to understand the concept of Reverse Mortgage and its
feasibility study.



Objectives of the study:



    To study the organizational structure.
    To study the theoretical aspects of Reverse Mortgage.
    Feasibility Study.



Statement of the problem:



      Study has been taken in order to know the feasibility of Reverse
Mortgage

Research Methodology:



    Sampling method: - Deliberate Convenience Sampling. For selecting the
      sample for my survey two important criteria were considered one is that
  the age of the respondents should more than 62 and the other criteria is
  that respondent should own a house with its title.



 Sample size :- 30
    Data collection method
              Primary data
                 Questionnaire
                 Personal interview
                 Observations



              Secondary data
                 Records
                 Journals
                 Websites



    Scope of study
          Mumbai city



    Tools used for analysis
          SPSS
          Graphs and Charts




Limitations of study:



             The limitation of the study is lack of information being provided by
the staff of the bank because of the privacy policy of the bank. As for the survey
deliberate convenience sampling is used, in which the respondents are selected
on the basis of certain criteria the sample size is less and this is another
limitation of my study.
Points to Ponder :

   • An attractive option to the elderly to finance their consumption needs on
      their own.
   • The loan is given without any income, medical or credit requirements
      criteria.
   • Encourage more people in the working population to increase the
      proportion of their savings invested in housing.
   • Reverse mortgage lender in the Indian market must proceed with caution.
   • The actual size of the reverse mortgage markets is nowhere near its
      estimated potential.


      External Guide:
      Mr. SIddharth Shirali , General Manager Shamrao Vithal Co-op Bank.

				
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posted:3/11/2011
language:English
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