An Empirical Study on Customers Perception and Preference of Reverse Mortgage Loans with Special Reference to Palakkad District

• Author(s): GOPIKA S S ; Dr. K. AMUTHA
• Paper ID: 1702233
• Page: 249-256
• Published Date: 24-04-2020
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 3 Issue 10 April-2020

Abstract

Now a day, banks are providing a number of innovative financial instruments to the customers for generating income. One of the innovative financial products introduced by the bank is Reverse Mortgage Loans. Reverse Mortgage Loans are those which benefit the senior citizens of the nation. It facilitates income generation for the old age citizens. Through Reverse Mortgage Loans, they can mortgage their house property with the banker and convert this equity into income which is free from taxation. There is no requirement to sell the house. There are no satisfaction results about Reverse Mortgage Loans, even though there is growth in the market. This article tries to find out the various reasons for opting the loans. Also it tries to know the level of awareness of customers about the Reverse Mortgage Loans. The present study also focuses on exploring and highlighting the various types of loans available to the senior citizens.

Keywords

Reverse Mortgage, Different Schemes, Reasons for the popularity, Awareness level

Citations

IRE Journals:
GOPIKA S S , Dr. K. AMUTHA "An Empirical Study on Customers Perception and Preference of Reverse Mortgage Loans with Special Reference to Palakkad District" Iconic Research And Engineering Journals Volume 3 Issue 10 2020 Page 249-256

IEEE:
GOPIKA S S , Dr. K. AMUTHA "An Empirical Study on Customers Perception and Preference of Reverse Mortgage Loans with Special Reference to Palakkad District" Iconic Research And Engineering Journals, 3(10)