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Your Money: Why reverse annuity mortgage has few takers
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By Prashant Das
Tantalus, the son of mighty Greek god Zeus had all the wealth, but a curse forbade him from consuming it. Real estate ownership by Indian middle-class has a similar story. In recent decades, the net worth of senior citizens has increased, and a larger portion of their wealth is allocated to real estate even as they may not have the liquid cash to meet their needs.
RAM as a solution Reverse annuity mortgage (RAM) is an effective tool to break the Tantalian punishment. It allows
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