latest Budget has proposed the creation of mortgage
guarantee companies by putting in place the much-needed
of mortgage guarantee companies will improve alternative
resources to housing finance companies at a lower cost,
which will provide greater comfort to the lenders and
improve their profitability.
introduction of reverse mortgage by the National Housing
Bank is positive for DHFL, as we were the first to initiate
this product and are ready with procedural aspects.
on Bharat Nirman Yojna and the 31 per cent increase
in the fund allocation to this scheme will generate
employment in rural areas which will increase income
levels of working people in these areas and increase
the potential demand for housing finance," said
Kapil Wadhawan, chairman and managing director of DHFL.
said the National Housing Bank would introduce ''reverse
mortgage'' for senior citizens under which the house-owner
would be able to avail of a monthly stream of income
while remaining the owner and occupying the house.