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Reverse mortgage still struggles to get senior citizens support

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For every needy there is a solution at least from the financial organizations, if one is sure to get them back the entire amount with interest. According to the sources of www.propertykhazana.com a new scheme called reverse mortgage has touched the financial circuit with the nod of the govt. concerned body last year. But it is very sad that the new hybrid product is still struggling for its success among the oldies as it mainly focuses on the retired personals.
Various confidential sources of www.propertykhazana.com also reveals that from the day of its official entry to the financial market among the 80 million senior citizens in India just a fraction of 1100 has showed their interest regarding this Mortgage loan. Meira Kumar –Minister for social justice and empowerment, Govt. Of India recently attended many public gathering to make the senior publics aware about the reverse mortgage and urged to be benefited looking to the various terms and conditions. At the same time she also stated that the new financial breed is not the social service kind but an acute product of financial interest and so the senior citizens are advised to go through it cautiously before signing the forms.
According to come data’s collected by some private agencies on behalf of www.propertykhazana.com has revealed that the seniors are not happy with the uncertainty of the details provided at various banks and more often oldies generally keep themselves away from such bank dealings, as such the hybrid financial product is lower in demand.
Source: NBTVLIVE

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