No, reverse mortgages are not bad but it is not very successful in India. People in India have sentiments associated with their properties, especially their first home and they wouldn’t want to lose that at any cost. Plus, if old couples, people who are generally eligible for mortgage loan, would rather pass on the properties to their children or grandchildren rather than mortgaging it to sustain their retirement life.

Indians live a different life, follow a different culture compared to the rest of the world. Here, kids depend on their parents while they grow up, and then elderlies depend on their children post retirement for their expenses. Though things are changing and most Indians are accepting the norms of the western world, it would still take reverse mortgages to become a feasible product in India.


Though there are a few good things about reverse mortgage:-

  • Reverse mortgage can be the best solution to retirement financing for elderly couple having no kids or lineage.
  • Reverse mortgage is also best for elderlies who have kids living away an independent life away from them. They can mortgage their home and gain sufficient funds through reverse mortgage for their retirement.

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